Facebook Rejected Despite Strong Numbers
Facebook tried to rally on strong earnings yesterday, and the bears were having none of it.
The social-media giant spiked to an eight-week high early, only to close at its lowest price in over a week. In other words, it had a large bearish outside candle on heavy volume.
This chart also illustrates the downward trendline on FB, which has successfully held the stock in check.
Next, notice how stochastics recently showed an overbought condition. Finally, the stock has slipped back below its 50-day simple moving average after a brief attempt to break out.
Speaking of breaking out (more like not breaking out) FB hasn’t hit a new 52-week high in 107 sessions. That places the House of Zuckerberg in the bottom fifth among its Nasdaq-100 peers, according to TradeStation data.
What’s wrong with FB? It appears that good news is known and priced in. Meanwhile potential legal and businesses risks involving Apple (AAPL) are just emerging.
TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
The social-media giant spiked to an eight-week high early, only to close at its lowest price in over a week. In other words, it had a large bearish outside candle on heavy volume.
This chart also illustrates the downward trendline on FB, which has successfully held the stock in check.
Next, notice how stochastics recently showed an overbought condition. Finally, the stock has slipped back below its 50-day simple moving average after a brief attempt to break out.
Speaking of breaking out (more like not breaking out) FB hasn’t hit a new 52-week high in 107 sessions. That places the House of Zuckerberg in the bottom fifth among its Nasdaq-100 peers, according to TradeStation data.
What’s wrong with FB? It appears that good news is known and priced in. Meanwhile potential legal and businesses risks involving Apple (AAPL) are just emerging.
TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
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