Facebook Inc. Broke Over $335 Key Price Area – Bulls To Continue Further?


Facebook Inc. has become non-volatile and hit an all-time high of $337.50 price area. Facebook Inc. sustained its bullish trend and broke over $335 key price area. The bulls to continue the bullish trend further 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 8, 2021, | AtoZ Markets – Facebook Inc. rose today during the London session and broke above $332 to $335 key resistance area. Facebook Inc. is currently trading around $336.60 price area and trying to climb further upside. After an extended period of volatility, the bulls found support at the dynamic level of 20 EMA on the intraday chart and strike higher quite impulsively. As per the current price action, the price may retrace downside towards $335 to $332 price area in the coming days.

Facebook Inc. Broke Over as the Investors Are Optimistic

Facebook is currently residing near $336.50 price area and trying to recover higher. However, the price also broke above the Bollinger Bands upper band on the intraday chart.

Facebook Inc. Broke

Image: FB 4 Hour Chart

According to the 4-hour chart, Facebook Inc. broke over and currently trading around $336.50 price area. As per the current scenario, if the price can have an impulsive bullish candle close above the Bollinger Bands upper band, the bulls may sustain the bullish pressure towards $343 to $345 price area in the coming days. On the contrary, if the price can reject the Bollinger Bands upper band and have an impulsive bearish candle close below $335 to $332 price area, the bears may regain momentum and push the price down towards $322 to $320 price area in the days ahead.

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 carry the price as strong support. Besides, the Bollinger Bands middle band may work as a confluence of the dynamic level in the process.

FB Bears May Regain Momentum

According to the daily chart, Facebook Inc. broke above and currently trading around $336.50 price area. As per the current price action, if the price can have an impulsive daily bearish candle close below $335 to $332 price area, the bears may regain momentum and push the price down towards $322 to $320 price area as a first target. The second target will be $310 to $305 price area if the price can break below $322 to $320 price area in the coming days.

Facebook Inc. Broke

Image: FB Daily Chart

Moreover, the dynamic level of 20 EMA is currently residing below the price. So, it may pull the price down as a mean reversion. Along with this, the MACD lines are currently residing above the 0.00 level and created a bearish divergence. It indicates that the bears may regain momentum in the days ahead.

To conclude, as the MACD lines have created a bearish divergence on the daily chart, there is a high chance that the bears may regain momentum. A daily close is required to identify the definite momentum in the coming days. 

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