- 9/15/2023 -
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Facebook (FB) Technical Analysis
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|It was a fourth positive week after 3 consecutive negative weeks for the Facebook (FB). During the week, the FB climbed 2.42 points, or 0.81%, and closed at 300.31 on Friday, September 15, 2023. Weekly volume was -41% below average. |
FB is a member of Communication Services Sector. Communication Services is the 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 November 4, 2022 at 88.09 and reached 326.20 on July 28, 2023. FB gained -238.11 points, or -270.30%, in 38 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (310.02) 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 long-term trend.
Medium-term trend: [See FB medium-term trend chart]
A medium-term downtrend had started on July 28, 2023 at 326.20 and reached 274.39 on August 18, 2023. FB lost 51.81 points, or 15.88%, in 3 weeks. The price is now at the 50.03% retracement level.
Weekly Technical Indicators: [See FB weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. 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. Use the following link to access Williams' Percentage Range help.
The weekly MACD line is below its signal line since August 18, 2023. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. Use the following link to access a MACD help.
Short-term trend: [See FB short-term trend chart]
A short-term uptrend had started on August 18, 2023 at 274.39 and reached 312.87 on September 14, 2023. FB gained -38.48 points, or -14.02%, in 27 days. The price is now at the 32.64% retracement level.
Daily Technical Indicators: [See FB daily technical indicators chart]
Daily Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range.
The daily MACD line is above its signal line since August 31, 2023. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term uptrend 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 price is close to the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands is falling, and it was 9.68% on Friday. It is 55.27% lower than one year average. It indicates the period of low volatility of the stock price. 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.
Price is close to the 50 Day Moving Average. While daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.