There’s always too much hype when it comes to Facebook stock.
In fact, too many contrary opinions get shared about Facebook stock, also known by its ticker as FB stock.
Here’s the deal.
Ignore the opinions and do your own Technical Analysis as we did in the live trade below on our TradingView chart.
The result?
When you trade according to your rules, it’s relatively simple to become extremely profitable!
Just see what we did.
By using our best Trading Indicators for Stock trading (including the Bottoms Tops Signal, the RSI Exhaustion, and the Levels and Zones), we performed a rigorous Facebook stock analysis.
Thanks to this, we’ve identified a clear and very safe Trading opportunity.
Trade setup – 2 Oct 2019
It looks like we have a trading opportunity on Facebook stock today.
Our trade setup is confirmed by the fact that:
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- There is a significant divergence between the price, which goes down, and the RSI Exhaustion, which goes up.
- The RSI Exhaustion is bearish exhausted, which means that the price doesn’t have too much room to move any lower.
- We have a least one confirmed bottom
To set the stop loss and the target levels we exploit the major support and the major resistance indicated by the Levels and Zones.
Trade update – 2 Oct 2019
The price moved lower to retest the support.
It was to be expected because we know that the price likes to test multiple times the support and resistance levels displayed by the Levels and Zones.
Right now it’s still in our stop-loss area but the RSI Exhaustion is rising, and so the price should rise as well.
Trade update – 4 Oct 2019
The price made a significant up movement, which confirms that our technical analysis is correct.
However, we still have a long way to go before the Take Profit order gets triggered.
Trade update – 10 Oct 2019
The trade got interesting because it formed a sell setup.
However, by considering our initial setup, the price action, and what the indicators tell us, we can say that it looks like a minor opportunity.
Because of all these conditions, we just stay in the trade.
Trade update – 11 Oct 2019
The price made a gap up, which confirms our outlook and also gave us the opportunity to move our stop loss to breakeven.
So, from now on, we’re in a risk-free trade!
Considering the price action, we should definitely be able to reach the target.
Trade closed – 18 Oct 2019
It took some more time but eventually, the price reached our initial target.
In the end, the trade has been rather long but we successfully exploited the price movement between the major support and resistance.
Moreover, thanks to the stock Technical Indicators that we used, we got out of the market with an almost 5x profit on Facebook stock, a 4.85x to be precise.
What’s your experience with FB stock?
Feel free to share how profitable you are trading FB stock (or the other FAANG stocks) by leaving your comment on the YouTube video above.
