Don't Ignore This Chart!

Facebook Springs to Life with Gap and MACD Cross

Facebook (FB) has underperformed the market this year, but momentum is improving as MACD moved above its signal line this week. Notice how the stock held support in the 25 area and gapped up on Friday. This gap is bullish as long as it holds. A move below 25.9 would negate the gap.

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Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
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