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Facebook in uptrend again

Throughout May FB – Facebook, Inc. – followed a bearish trend where the highs touched the descending blue resistance line. What is more, at the end of June, FB price dropped to a support line – the horizontal blue line – at 160.

Following that there was a trend reversal. Price moved above the lower Bollinger Band, and then above the 10- 20- and 50-day exponential moving average.

Currently price moved above the blue resistance line.

MACD has already depicted this change in momentum direction and has moved above its signal line.

Likewise, FB’s Relative Strength has also crossed above its 20-day exponential moving average as the stock outperforms our benchmark, SPY.

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