Facebook share: are the cops running out of strength? – UBS column

Review: At the end of August, Facebook shares hit their target price at USD 305.76 and bounced off the mark significantly downwards. Only at the support at USD 245.18 did the relapse stop. Since then, a volatile triangular formation has dominated, from the top of which in the area around USD 300.00 the value recently fell again. The price approached the upward trend line that surrounds the triangle on the bottom. Shortly before the first bearish signal, however, the value was able to orientate itself north again last week.

Outlook: The shares of Facebook are currently defending themselves against a short-term short signal. To prevent this, however, there must now be a sharp increase.

The short scenarios: If the value breaks below the bottom of the triangle again and then falls below USD 264.53, only the support at USD 257.34 could stop a strong sell-off to USD 245.18. In this case, however, it is more likely that the price will slide to this central support brand before a significant recovery should set in there. Below that, however, losses of up to USD 230.00 and USD 224.20 would be expected.

The long scenarios: Should the bulls succeed in pushing the stocks back above USD 285.00, an attack on the top of the triangle at currently USD 292.00 could result. The bears could report back there. Above that, however, an increase to the current record high of USD 304.67 would be expected.

Livestream on December 14th, 2020 from 6 p.m .:

With Hans-Werner Sinn, former President of the Ifo Institute.

With Hans-Werner Sinn, former President of the Ifo Institute: Corona and the miraculous increase in money in Europe
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