Facebook Inc. Surged Over $315 Price Area – Can Recover Further?


Facebook Inc. bulls have regained momentum after bouncing from $295 to $300 support area. Facebook Inc. surged over $315 price area. Can FB recover further upward 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 18, 2021, | AtoZ Markets – Facebook Inc. is currently trading around $317 price area and trying to push higher. After rejecting $330 to $325 price area, the bears have regained momentum and push the price down and broke below $315 to $310 support level last week. However, the bulls have found support around $295 to $300 price area and strike over $310 to $315 price area with a daily bullish candle close yesterday. As per the current price action, the price may find support at the dynamic level of 20 EMA on the intraday chart in the coming days.

Facebook Inc. Surged Over as the Investors Are Optimistic

Facebook is currently residing near $317 price area and trying to climb upward. However, the price also broke above the Kijun line and the Tenkan line on the daily chart.

Facebook Inc. Surged

Image: FB 4 Hour Chart

According to the 4-hour chart, Facebook Inc. surged over and currently trading around $317 price area. As per the current scenario, if the price can have an impulsive bullish candle close above $310 to $315 price area, the bulls may sustain the bullish pressure towards $325 to $330 key area in the process. On the contrary, if the price can have an impulsive bearish candle close below $315 to $310 price area, the bears may regain momentum and push the price down towards $300 to $295 price area again in the coming days.

In addition, the dynamic level of 20 EMA is currently residing below the price. So, it may work as strong support to push the price higher. Moreover, the MACD lines are currently residing below the 0.00 level and had a bullish crossover. It indicates that the bulls may continue the bullish pressure further in the days ahead.

FB May Continue Further Upward

According to the daily chart, Facebook Inc. surged over as the overall bias is still bullish. As per the current price action, if the price can have an impulsive daily bullish candle close above $310 to $315 price area, the bulls may sustain the bullish trend towards $325 to $330 price area as a first target. The second target will be $345 to $350 price area if the price can break above $325 to $330 resistance area in the coming days.

Facebook Inc. Surged

Image: FB Daily Chart

Furthermore, the dynamic level of 20 EMA is currently residing below the price. Along with the Kijun line and the Tenkan line. So, the dynamic level may work as strong support to push the price upside. Besides, the Kijun line and the Tenkan line may work as a confluence of the dynamic level in the process.

To conclude, as long as the price residing over the Kumo Cloud, the bias will remain bullish. An impulsive daily close is required to identify the definite momentum in the coming days. 

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