The Greedy Trader Weekly Analysis
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Summary:
Weekly :Overbought sectorBroken trend support lineBroken trend resistance line
Daily :The price has fallen below the Parabolic SARMACD bullish divergencePrice is near the Fibonacci 23.6% retracement levelThe Bollinger Bands are historically close together
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It was the negative week for the Facebook (FB). During the week, the FB dropped -5.59 points, or -2.05%, and closed at 267.57 on Friday, January 8, 2021. Weekly volume was -25% below average.

FB is a member of Communication Services Sector. Communication Services is the second most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See FB long-term trend chart]
A long-term uptrend had started on December 30, 2013 at 53.43 and reached 304.67 on August 26, 2020. FB gained -251.24 points, or -470.22%, in 347 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (146.44) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.

Medium-term trend: [See FB medium-term trend chart]
A medium-term uptrend had started on March 18, 2020 at 137.10 and reached 304.67 on August 26, 2020. FB gained -167.57 points, or -122.22%, in 23 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend support line (307.19) is broken. A broken support is considered to be a long-term bearish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a medium-term trend.

Weekly Technical Indicators: [See FB weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since September 25, 2020. Use the following link to access a MACD help.

Short-term trend: [See FB short-term trend chart]
A short-term downtrend had started on December 2, 2020 at 291.78 and reached 260.01 on January 6, 2021. FB lost 31.77 points, or 10.89%, in 35 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Daily Technical Indicators: [See FB daily technical indicators chart]
Daily technical indicators are neutral. Daily MACD has bullish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with daily MACD bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals.

The daily MACD line is below its signal line since December 9, 2020. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term downtrend is getting stronger.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

The distance between the Bollinger Bands (5.9%) is close to one year low (7.01%). It is 64.74% lower than one year average. It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 43.02
Williams' Percentage Range (W%R) 59.50
Lane's Stochastic (%D-Slow) 32.53
Greed/Fear Indicator (GFI) 38.68
Moving Average Converg./Diverg. (MACD) -1.60 Bullish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 52.73
Williams' Percentage Range (W%R) 60.10
Lane's Stochastic (%D-Slow) 41.57
Greed/Fear Indicator (GFI) 43.33
Moving Average Converg./Diverg. (MACD) 13.08
Trading Signals
Description Value Chart
Monthly Trendline Support 307.19
Monthly Trendline Resistance 291.11
Parabolic System 279.97
Upper Bollinger Band 279.83
50 Day Moving Average 275.22
20 Day Moving Average 272.03
Weekly Stochastic Crossing 271.50
Price 267.57
Daily Stochastic Crossing 266.95
Lower Bollinger Band 264.04
Yearly Trendline Resistance 227.71
Sector and Industry
Description Name Rank
Sector Communication Services 8
Industry Interactive Media & Services 38
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 291.78
High Date 12/02/2020
Low 260.01
Low Date 01/06/2021
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 297.38
High Date 11/05/2020
Low 260.01
Low Date 01/06/2021
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Support
Resistance 291.11
Support 307.19
Low 137.10
Low Date 03/18/2020
High 304.67
High Date 08/26/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 123.02
Low Date 12/24/2018
High 304.67
High Date 08/26/2020
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Resistance
Resistance 227.71
Support 146.44
Low 53.43
Low Date 12/30/2013
High 304.67
High Date 08/26/2020
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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