On Wednesday, the US dollar weakened in anticipation of the US CPI data, which could influence market exposure. A Bloomberg survey predicts a year-on-year read of 5.0% to the end of April. Market sentiment is affected by the US debt ceiling and issues with regional banks. While the major APAC equity indices are...
Stock market: Facebook may close the gap
2021-07-20 • Updated
SELL 192.00; TP 195.00; SL 194.00
This week Facebook Inc. released its earnings figures for Q1. The company’s earnings per share (EPS) and revenue turned out to be better-than-expected: $1.89 and $15.08 billion versus the forecast of $1.62 and $14.97 billion. The number of daily active users of the social network was also quite fine.
However, Facebook faces a lot of challenges. In particular, the company is under investigation because of the user privacy problem. It set aside $3 billion to pay out as fines to the US Federal Trade Commission (FTC). Even though the market’s initial reaction to the earnings report was positive, technical factors, as well as the concerns related to the fines, will likely make the stock price correct to the downside in the upcoming sessions.
At the chart, you can see that Facebook stock met resistance at the 78.6% Fibonacci level of the 2018 decline (198.45). There's also a psychological level of 200.00 that will be hard to overcome. This can make the stock aim for the bottom of the bullish gap in the 185.00 area.
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I know we've had quite an amazing run these past few month, with over 78% accuracy in our trade ideas and sentiments, and thousands of pips in profits monthly...
On Friday 10th February 2023, the Office for National Statistics published the figures for the Gross Domestic Product (GDP) as 0.1% which turned out greater than the initial forecast of -0.2%. As a result of the positive outlook of this report, we need to examine the short-term impact on GBP pairs from a technical point of view.
Let's dive into the world of gold. Currently, the price of gold, represented by XAUUSD, is stuck in indecision, hovering around the $1,975 mark. The market is anxiously awaiting two important factors: the release of the Federal Reserve's meeting minutes and the extension of the US debt ceiling.
Hey guys, this is the last full trading week in May, and many forward-looking individuals like myself are already preparing themselves to seize whatever opportunities June may have in store. On this note, I will review a few commodities that have satisfied my quest for swing-trading opportunities in the coming month. Follow me!
The Bank of England (BoE) has dramatically shifted its economic forecasts. They no longer expect a recession in the UK and have upgraded their growth projections. This year, the BoE predicts GDP growth of +0.25%, a significant improvement from previous expectations. Next year's forecast is even more optimistic, with a projected growth of 0.75%.