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    Historical maximum of Facebook shares

    28 July 2016

    Historical maximum of Facebook sharesDear traders,

    Facebook has published a report for the second quarter, which has reported an income growth of 63% y/y and reached the level of $6.23 billion.

    The net income was increased even more: 186% y/y to $205 billion. Number of active users of the network increased by 17% compared to the second quarter of 2015, to the level of 1.13 billion people.

    The profit from mobile advertising is 84% from a total income volume, while the year before it was fixed on 76%. The positive release of Facebook may cause the growth of quotations in the short term.

    Technical analysis:

    On the dayly, 4-hourly and hourly charts, ADX indicator indicates a strong uptrend. RSI on the daily chart is not in the overboughtness area, which allows to keep Buy position. Recently, the price steadily broke the strong resistance level of 122.18, which is now becoming a strong support level. The stock is trading at the historical High, and now there is no resistance on the chart.

    Historical maximum of Facebook shares

    Our trading recommendations:

    Buy #Facebook

    The first target is 125.90

    The second target is 128.48

    Good luck in trading!
    FreshForex — fresh view on money!

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