Facebook shares (NASDAQ:FB) will go in certain northward bias this year, as explained below. The effort of gloomy forecasters and sellers will be frustrated, as the bull remains unshaken. The sturdy stump does not shake. Whoever tries to shake the sturdy stump will end up shaking himself.
The major trend is now bullish: a single bearish candle does not determine the future of the Facebook stock. On the chart, there are the Average Directional Movement Index period 14 and the MACD (default parameters). The ADX 14 is above the level 30, going towards the level 40, while the DM + is above the DM-. The MACD histogram and signal lines are all above the zero line, and therefore there is a bullish confirmation pattern on the chart. Go long on Facebook. At the time of writing this, the price on the market was at 30.95, and would easily get to 37.00 this year and possibly going beyond that. It is imperative for us to reduce our exposure and speculate with less position sizing.
This article is ended with the quote below:
“Sometimes things just aren’t going as well as they should, and that may even continue to be the case for a longer time. After all, you can only take away what is offered by the market.” – Marc Rivalland
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