Let's take a look at Facebook (FB) & its consolidation activity that has been taking place. This consolidation activity started after Facebook's most recent earnings report. Its share price gapped up to new highs after reporting earnings and its share price has been consolidating in a sideways movement since.
Let's review some charts to see what might be going on in the future for Facebook's share price.
Facebook (FB) & Its Consolidation
This first chart for Facebook (FB) is a 5 year monthly candlestick chart. This 5 year monthly candlestick chart will provide a longer-term view of Facebook's share price activity.
While Facebook's share price has been consolidating the last couple of weeks, the MACD Histogram shows that buying momentum is continuing to increase. And since this is a monthly chart, the MACD Histogram buying momentum represents long-term momentum.
At the MACD Histogram's previous peak in February 2014, Facebook's share price closed the month at $68.46. As the buying momentum continued to decline over the next year, Facebook's share price still rose and hit a high of $86.07 in March 2015 before consolidating for a couple of months.
One more good earnings report before years end and Facebook's share price will be over the $…...
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After discussing the current consolidation period for Facebook's share price, I calculate long-term upside price targets.
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