Annual Trading Forecast on Facebook (2014)

PUBLISHED: 02 Jan 2014 @ 06:30 | Comments (0) | More info about Azeez Mustapha

Facebook stock (NASDAQ:FB) is already a bull market in spite of occasional pullbacks that are experienced on it. These pullbacks give astute traders and investors good opportunities to go long at better prices.

On the chart, the price is trading above the EMA 21 (which is acting as a support to the price). The Williams’ % Range period 20 testifies to the strength of the bulls. There is currently a pullback in the market, and there is a support level at 50.00, which should act as a barrier to the bears’ machinations. This stock could reach the resistance level at 100.00 eventually.

Conclusion: This year would be favorable to bulls on Facebook. You may think the market has gone too far, but the price on this stock will double or treble this year. Those who believe in efficient markets may think that circumstances are stacked against determined traders, but when we have excellent trading approaches, we have an unbeatable advantage. I wouldn’t mention anything like permanent success in the markets if it weren’t possible. It’s possible to enjoy trading and have permanent success as a trader.

This forecast is ended with the quote below:

“My objection to the system vendors is that they maintain that their system is all that is required to be successful, whereas in reality it is the ability to implement a system or strategy that determines success.” – Malcolm Robinson

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