Facebook (FB) Weekly Trading levels for WS 10th Feb

Facebook had taken support at the Bull Trend Line and the 50 DMA last week. Post the fabulous results which beat market expectations it has traded near the Upper Channel line as seen in the chart below for most of the past week. Friday’s close was a strong Positive candle which could propel it above the trend channel in the next week.

I must admit though, that some amount of profit booking could take it back in the channel. The weekly chart also looks good for an up move. On the downside move $60 would act as the first line of support. Anyone shorting at higher levels can look at booking partial profits at this level.

FB WS 10th Feb

Following are the Trading levels for WS 10th Feb

Buy above 63.20 Tgt 1 – 65.65, Tgt 2 – 67, Tgt 3 – 69.40

Sell below 63.20 Tgt 1 – 61.90, Tgt 2 – 59.50, Tgt 3 – 58.10

Very Important – DO NOT TRADE WITHOUT STOP LOSS. Use sound Money Management with your Trading Plan and do not over leverage vis-a-vis your trading equity.

Have a Profitable Trading week ahead!

To your Boring Success!!!

Advertisements

Liked the post? Leave a comment

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s