Annual forecast for Facebook (2021)

PUBLISHED: Jan 12 2021 @ 00:51 | Comments (0) | More info about Azeez Mustapha

Facebook stock (NASDAQ:FB) is not an attractive market at all. Price is quite choppy and it is now caught in an equilibrium zone. Since June 2020, the equilibrium movement has started and it makes price oscillate between the upper and the lower Trendlines.

The RSI period 14 is also between the levels 40 and 50; again with no directional movement. It is better to stay away from this market until there is a directional movement. That will be achieved once price goes above the upper Trendline and the RSI is going towards the overbought region; or when price goes below the lower Trendline and the RSI is going towards the oversold region.

This year, the possibility of FB going south is higher than its possibility of going north. That is because price has already tested the lower Trendline (though unable to break it to the downside); and the RSI period 14 is kind of titled to the downside.

Teach Yourself Technical Analysis: Teach Yourself

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

Follow @ItuGlobal

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.