Can Facebook Inc. Hit an All Time High of $350 Price Area?


Facebook Inc. bulls have regained momentum after bouncing from $330 to $332 support area. Can Facebook Inc. sustain its bullish trend and hit an all-time high of $350 price area in the coming days? What are the charts and technical indicators are saying? Read more to find further insights into today’s FB Technical Analysis.

June 15, 2021, | AtoZ Markets – Facebook Inc. is currently trading around $336.70 price area and trying to climb higher. After rejecting $340 to $338 key resistance area, the bears pushed the price down and reached $332 to $330 support level. However, the price failed to break below the dynamic level of 20 EMA on the intraday chart and bounced upside again. As per the current price action, the price may face strong resistance around $338 to $340 price area in the coming days.

Facebook Inc. May Hit an All Time High

Facebook is currently residing near $336.70 price area and trying to recover upside. However, the price had an impulsive daily bullish candle close after bouncing from $330 to $332 support level.

Facebook Inc.

Image: FB 4 Hour Chart

According to the 4-hour chart, Facebook Inc. is currently trading around $336.70 price area and trying to push higher. As per the current scenario, if the price climbs further upward and breaks above $338 to $340 key resistance area, the bulls may sustain the bullish trend towards $348 to $350 all-time high price area in the process. On the contrary, if the price rejects $340 to $338 key resistance area with an impulsive bearish candle close, the bears may regain momentum and push the price down towards $332 to $330 price area in the coming days.

In addition, the dynamic level of 20 EMA is currently residing below the price, which has already worked as strong support and pushed the price upside. Along with this, the MACD lines are currently residing above the 0.00 level and may have a bullish crossover. It indicates that the bulls may continue the bullish trend further in the days ahead.

FB Bulls Are Optimistic

According to the daily chart, Facebook Inc. is currently trading around 336.70 area and trying to recover further. As per the current price action, if the price can have an impulsive daily bullish candle close above $338 to $340 price area, the bulls may continue the bullish bias towards $348 to $350 key price area in the process.

Facebook Inc.

Image: FB Daily Chart

Furthermore, the dynamic level of 20 EMA is currently residing below the price. Along with the Bollinger Bands middle band. So, the dynamic level may work as strong support to push the price upward. Besides, the Bollinger Bands middle band may work as a confluence of the dynamic level in the days ahead. However, the Bollinger Bands’ upper band is currently residing over the price, which may work as strong resistance to push the price down.

To conclude, as the price had an impulsive daily bullish candle close after bouncing from $330 to $332 support level, there is a high chance that the bulls may sustain the bullish trend further in the coming days. 

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