Facebook Inc. Hit a Fresh High of $331 Price Area – What Next? 


Facebook Inc. strikes higher with a bullish opening gap last week and hit an all-time high. Facebook Inc. hit a fresh high of $331 key price area. What is next? Bulls to sustain 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. 

May 4, 2021, | AtoZ MarketsFacebook Inc. is currently trading around $318.30 price area and trying to push lower. After bouncing from $295 to $300 support level, the bulls pushed the price higher quite impulsively and broke over $310 to $315 key resistance level. As per the current price action context, the price may fill up the bullish gap before continuing the bullish bias further in the coming days.

Facebook Inc. Hit a Fresh High as the Investors Are Optimistic

Facebook is currently residing near $318.30 price area and trying to retrace downside. However, the price faced strong resistance at the Bollinger Bands middle band on the intraday chart.

Facebook Inc. Hit

Image: FB 4 Hour Chart

According to the 4-hour chart, Facebook Inc. hit a fresh high and currently trading around $318.30 price area. As per the current price action, the price may retrace downward towards $315 to $310 support area in the coming days. So, if the price retraced lower towards $315 to $310 price area and bounced with an impulsive bullish candle, the bulls may regain momentum and recover higher towards $328 to $331 price area in the process. On the contrary, if the price can break below $315 to $310 support level with a bearish candle, the bears may push the price down towards $300 to $295 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 act as a strong support to push the price higher. Besides, the Bollinger Bands’ middle band may work as a confluence of the dynamic level in the process.

FB May Continue the Bullish Bias Further

According to the daily chart, Facebook Inc. hit a fresh high as the bulls are optimistic. As per the current scenario, the price may retrace towards the dynamic level of 20 EMA in the days ahead. So, if the price can bounce higher from $310 to $315 support area, the bulls may regain momentum and recover higher towards $328 to $331 price area as a first target. The second target will be $345 to $350 price area if the price can break over $328 to $331 key resistance area in the coming days.

Facebook Inc. Hit

Image: FB Daily Chart

In addition, the dynamic level of 20 EMA is currently residing below the price. So, it may work as strong support in the process. Along with this, the MACD lines are currently residing above the 0.00 level and gradually moving upside. So, it indicates that the bulls are still residing on the market and may strike upward in the days ahead.

To conclude, as long as the price residing over the dynamic level of 20 EMA, the overall trend will remain bullish. An impulsive daily close will help to identify the definite momentum in the coming days. 

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