Facebook Basing Action
Facebook has been experiencing a multi-week pullback / consolidation phase and seems poised for a resumption of upside momentum. Three days of upward price momentum with increasing volume is indicative of this. MACD keeps inching closer to positive territory with multiple positive divergences and the price is crossing over the moving averages. I would expect the stock the hit the 63 level at the very least.
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The value of investments may go down as well as up and you may not get back your original investment. Past performance is not necessarily a guide to future performance. This information is suitable for institutional and other accredited investors only. This document does not constitute, or form part of an offer to issue or sell, nor a solicitation to subscribe, in shares, units or other interests in investments. Nor does it constitute investment advice and is for information purposes only. Although we have taken all reasonable care to ensure that the information contained within is accurate at the time of publication, no representation or warranty is made as to its accuracy, reliability or completeness.
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