Strong uptrend for Facebook

As we can see in the blue box, since late April and for about a month, FB – Facebook, Inc. – followed a bearish trend. This downtrend has as an upper limit the stock’s descending 10-day exponential moving average.

Since the beginning of June the trend has reversed and now the stock follows a bullish trend. This uptrend – in the green boxes - is characterized by rising candlesticks that have moved above the stock’s 10- 20- and 50-day exponential moving averages. In addition, these moving averages are all rising as momentum keeps its strength.

Of course, MACD has already depicted this reversal in momentum and has moved above its signal line and to positive territory.

An eventual break of price above 200 will further confirm FB’s strong uptrend.

Just as important, FB’s Relative Strength has also moved up and above its 20-day exponential moving average.

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