One of our top technical stock ideas here is Facebook (FB).
The stock closed yesterday (Tuesday) at $232.72.
Facebook’s stock price is trading in a very strong uptrend, above the rising 20, 50, 100 and 200-day moving averages (a bullish trend signal).
FB just completed an 8% pullback after a breakout to new all-time highs and is setting up for another breakout here.
Another signal of the strong uptrend is that Facebook’s stock price has had no closes below the 20-day moving average since April 6, indicating a strong near term uptrend as well.
Staying above $220 is a key price level for shorter term traders and above $200 for position traders and active investors.
Larry is the publisher of the Blue Chip Daily Trend Report.
The author has a long position in ticker FB at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.