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Technical Summary
Term ? | Near | Mid | Long |
---|---|---|---|
Bias | Neutral | Weak | Strong |
P1 | 0 | 0 | 253.88 |
P2 | 267.52 | 265.87 | 286.56 |
P3 | 274.20 | 272.58 | 318.15 |
Long Term Trading Plans for FB
December 28, 2020, 8:00 pm ET
The Technical Summary and Trading Plans for FB help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this FB Report.
FB - (Long) Support Plan
The technical summary data tells us to buy FB near 253.88 with an upside target of 286.56. This data also tells us to set a stop loss @ 253.15 to protect against excessive loss in case the stock begins to move against the trade. 253.88 is the first level of support below 277 , and by rule, any test of support is a buy signal. In this case, support 253.88 would be being tested, so a buy signal would exist.
FB - (Short) Resistance Plan
The technical summary data is suggesting a short of FB as it gets near 286.56 with a downside target of 253.88. We should have a stop loss in place at 287.39though. 286.56 is the first level of resistance above 277, and by rule, any test of resistance is a short signal. In this case, if resistance 286.56 is being tested, so a short signal would exist.