Facebook
shares (NASDAQ:FB) are bearish. The bearish trend has been in place since the
last several months, and this is a trend that is expected to continue in 2019.
The ADX
period 14 is slightly above the level 20, meaning the present momentum in the
market is not great. The DM- is above the DM+, confirming the bears’ hegemony.
The MACD
default parameters, has its histogram and signal lines below the zero line.
There is a clean Bearish Confirmation Pattern in the market, which shows that
long positions would be irrational.
The
outlook on FB shares is bearish for the year 2019, and price may test the
demand levels at 120.00, 110.00 and 100.00 respectively.
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Trading realities: Trading realities
No comments:
Post a Comment