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Facebook Trading Analysis (05/11/2024)

05.11.2024

Market Review

The trend is up. The stock is trading in the range between 365 and 135 ЕМАs. The downward wave structure is truncated. There is a bullish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals an oversold condition.

Trading idea:

Buy when the formation of the ascending wave structure begins, when the wave A breaches the sloping channel of the descending truncated structure.
Stop-loss at 558.00.
Price targets at 573.50 and 584.50.

#facebook #stock #tradersroom #daytradingpatterns

Author: GC

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