Facebook Bulls To Challenge Recent Highs
City Index | May 13, 2019 02:59AM ET
Since gapping higher on solid earnings results on the April 25th, Facebook (NASDAQ:FB) has drifted lower along with global equities. However, support was found around $185 on Friday and formed a Rikshaw Man doji pattern to suggest bulls are trying to carve out a swing low. Whilst deadlocked trade talks are weighing on sentiment, it’s worth noting that Facebook has outperformed the S&P 500 and the Consumer Services Index, which itself is the third strongest sector in the S&P 500 year to date. So if the sentiment is to improve, we fancy Facebook’s chances of rebounding from current support levels to challenge the recent high and $200 mark.
Original post
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.