Sunday, 14 December 2014

US Stock Pick for the Upcoming Trading Session : Facebook

Technical analysis of the US stock pick for the upcoming session
Stock Pick of the Day


Recommendation                Buy Above $79.00
Target                                  $81.50

STOCK SUMMARY:-
Facebook Inc is overall in bullish trend and is sustaining at higher levels on chart. Traders can buy the stock above the level of $79.00 which is a near term resistance level for the stock, and if it manages to breach this level further bullish movement is expected in this stock to test the levels of $81.50.


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CHART FORMATION
Stock is in consolidate trend for near term and price is sustaining below the resistance trend line with good consolidation on daily chart. Near term breach of resistance level of $79.00 is expected, which would trigger further bullish sentiment in the stock to test the levels of $81.50.



Technical details of the Facebook Stock
Technical Chart

INDICATORS:-
RSI is trading with positive bias and is sustaining above the level of 50.
In MACD, signal line is sustaining above MACD line which  is indicating bullish sentiment in the stock.