Annual Trading Forecast on Facebook (2016)

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Facebook shares (NASDAQ:FB) are now in an equilibrium phase. The price might break out of the current range, but a downward movement is much more likely (though an uptrend cannot be ruled out).

From July to October 2015, the price went upward, with occasional pullbacks along the way. The price then consolidated in the last 2 months of 2015.

This year, the price would likely break out of the upper Trendline or the lower Trendline. However, a break below the lower Trendline is much more likely because the RSI period 14 is below the level 50. This means that the bears are currently scheming to surprise the bulls.

Facebook shares would experience some bearishness this year, but it may recover before the end of the year or after that. The price has suffered plunges in the past: only to recover. Past records of a trading activity would reveal what happened to your trading method before. When you trade based on what the market will do, then we are into unpredictable world. Your method would have done well before, but that does not mean it would do well in future. We can only infer that that we would survive because our method made us survive in the past. When record keeping is a great thing to do, it does not guarantee the same record for future.

This forecast is ended by the quote below:

“You can know everything about trading and charting that exists, but that doesn’t mean you are profitable.” – Rick Wright

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