Saturday, 18 August 2012

Estimated Facebook Stock Price

The Estimated Facebook Stock Price is slated to go lower based on Fibonacci retracement.

There are no guarantees in the financial markets, however, there are high probabilities. When you look at the chart above, the Fibonacci retracement indicates high probability of a bounce at around the $14.85 area. This doesn't mean that the  Estimated  Facebook Stock Price low would be $14.85, the price of Facebook could bounce off of the $14.85 target and go even lower yet. I should say as well that I'am not forecasting a date for this bounce, although a bounce off of the Estimated Facebook Stock Price $14.85 target would correlate with a bounce with the rest of the financial markets. Those forecasts are below.

The Russell 2000 is lagging the rest of the market, could play catch up, but everyone is going for income with the DJIA Index rather than growth.

The Wilshire 5000 Composite shows how the August 13 pivot point forecast was actually a low in the markets. The price of the Wilshire 5000 on the 10 minute chart broke out on short term resistance. One scary thing about this, there is less than average volume (not shown). There is a good chance that this will fail since the break out is done on less than average volume.

The markets could slowly keep going up staying in the over bought area. The weekly chart of the Wilshire 5000 shows how the price hasn't met the upper resistance line on the long term char.

I see a lot commentators showing a descending triangle for the gold chart. The chart above is the SPDR Gold Trust, the look is about the same. Usually when everyone is seeing the same pattern, the pattern fails. Here is another pattern, a breach of the channel and a bullish descending wedge. When you look at the chart above the price of Gold might not break out for a while. 

 The HUI index looks like something that could be picked away at, note, this is a monthly chart, so the indicators really don't hold value until the end of the month. I look at the long term charts to look at the big picture. The price is still holding well at the median line. There is talk about the gold miners taking off, they could, but the HUI Index could stay around this area for a couple of months too.

The S and P 500 weekly chart above show how we are up against long term resistance. The market could go higher and then go back below the long term resistance line. Everyone wants the central banks to come to  the rescue, more often than not, central banks don't come to the rescue until there is a bottom in the market. Does the S and P 500 weekly chart above look like a bottom in the market to you?

Does the DJIA Index weekly chart above look like a bottom in the market to you?

Last but not least, the chart below shows you one of my favourite chart patterns, the Triangle Chart Pattern. My first favourite is the 5 wave wedge. The Triangle Chart Pattern
is a powerful pattern to trade from. It's predictable over 80% of the time, it does fail, nothing is 100%

The Triangle Chart Pattern has five waves in it (not labelled) and when the price exits the Apex, the target price is the distance of the widest part of the triangle. In the chart above, the target price went higher than the target price. The time for the chart is central standard time for North America. I traded the first pivot point out of the Apex since I had a profitable day, I was tired and went to bed. I didn't wait for the retest to the apex and the price going to target.

The next pivot points in the markets are the final part of August...August 28-31st, 2012
  • September 12th
  • September 28th
I'am not promoting Facebook stock I only published the Estimated  Facebook Stock Price for illustration  purposes only. 

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