KABOOM! Face Book (FB) SURGES per @haejin's Analysis!!

in money •  24 days ago

SUMMARY

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As of June 4, ALL Crypto Analysis will be posted on the BitcoinLive channel and Steemit will be dedicated for Equity, Commodity and Options Analysis. To Signup for the BitcoinLive limited Founding Membership slots, use this link: https://get.bitcoin.live/haejin/

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On April 22nd, I had posted the below chart of Facebook (FB) with a beautiful price channel and had called the brief piercing of the lower trend line a bull wick event. The preponderance of prior bull wicks delivering massive gains was also compelling. The MACD was also oversold so a surge towards the upper trendline was to be expected.

Since then, price did surge upwards to deliver a whopping 3.7% just over a month! Now, that could be a laughable amount measured in Crypto standard of returns, but had a Call Option been purchased, the profit could have exceeded 37%!! The MACD also has crossed into a buy signal (blue circle).

On a shorter term chart (daily); I've labeled the Elliott Waves showing that 1,2,3 and 4 are likely complete with 5 left and probably aiming for the top trendline. What would you do at this point? Buy or Sell?

Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.

Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?

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Facebook is about to go down...Steemit is next up!!!

I’m very glad I started following you, because you post is really good@haejin

Lovely information, thanks for sharing.

More power, more strength.. Nice piece