2/12/2017 – SNAP Pressure Fades, Facebook (FB) Uptrend Resumes
Facebook (FB) Uptrend Resumes
As a Facebook (FB) shareholder, I was pleased to hear that Snapchat (SNAP) in its IPO filing has seen slowing growth already. They should have sold out to Facebook when Mark Zuckerberg offered to buy them out before going public over a year ago.
We will see how the market responds to slowing user growth for Snapchat when they finally start trading under the ticker symbol SNAP. Here is a first that I am aware of - SNAP shareholders will have absolutely no voting right on anything. Nothing. Owners make all the significant decisions.
Like I said, it will be interesting to see how the market reacts on their IPO with these issues as they are coming public. In the meantime, Facebook (FB) shareholders rejoice!! The uptrend continues. Let's analyze it and look at where some overhead price targets may lie.
Facebook (FB) - 5 Year Chart
For the purpose of looking at upside potential for Facebook's share price, I will use my standard Fibonacci Extension Tools for price targets. Facebook (FB) is a growth stock that is not over-valued by any means based on its growth and monetization rate.
I usually try to clean up the chart a little bit, leaving the more prominent targets on the charts for discussion purposes. But with the markets at all-time highs, it is important to take as many different price targets from different tools into consideration. When the markets are at all-time highs, basically you are navigating in uncharted waters.
I have been navigating the rough waters for Facebook (FB) since the $26 area as all original Trendy Stock Chart members know. I continue to hold onto those shares with a tight grip. After all, they are my "retirement fund" as I have often referred to them.
This first chart is a 5 year monthly candlestick chart for Facebook (FB). Like I said, it looks pretty cluttered. Sorry. But after you take a look at it, I will discuss what I see in the chart.
With almost neutral momentum on the weekly MACD Histogram indicator, you have to switch….
If you want to continue reading this article for Facebook (FB), you must first login. I look at upside price targets for Facebook's share price using some Fibonacci Tools. I also look at some areas where its share price may see resistance along the way.
If you are not a Trendy Stock Charts member, consider joining today! There are several different subscription plans available.