Facebook Inc. FB Forecast review Last Price $56.76 05/09/2014
Hi Everybody. Today I want to review a forecast I made on April.
Actually, the price is inside the buy range so I want to make another analysis, in order to find out if today we have the chance to buy or would be better wait for a lower price.
Let´s see the technicals:
The MACD is below zero and below the signal which was corssed recently.
The RSI is at 41%.
The stochastic is going down at 45%.
As you can see on the Chart the price has been moving inside a box (The elliot waves flat pattern) and now in my opinion is developing the 3rd wave (downtrend serie). So it´s probable that the price will go lower. I have recalculated the buy interval because today we haven´t the same scenario that we had on April.
buy range [49.18;54.33]. Those are the prices that I recomend to buy. The middle point is $51.75
When the price reaches thoser levels I will establish the targets.
Today I can´t recomend to buy this stock. I reomend to wait until the price enter into the buy range at least.
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