Facebook stock (NASDAQ:FB)
is in an uptrend. The market rallied last year, till the end of October, and
pulled back. The uptrend has resumed since the beginning of this year and it is
very strong.
Price is currently above
the EMA 21, while the Williams’ % Ranger period 20 is in the overbought region.
The market seems to have gone far, but… while there may be temporary pullbacks
along the way, the uptrend is expected to continue.
The outlook on Facebook
is bullish for the year 2017, and price could end up reaching the supply levels
at 140.00, 150.00 and 160.00.
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Super Trading Strategies: Super Strategies
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