As expected Facebook (NASDAQ:FB) is getting stronger after the covid-19 coronavirus retracement. The virus was just the trigger needed for Facebook stock to be a bargain providing many long term investor the opportunity to buy thousands of Facebook shares at a very cheap price.
We have discussed Facebook stock technical analysis and forecast in the past few months, more thoroughly and detailed in Set and Forget’s stock trading community, we had no reason to sell shares of Facebook stock because there was a long term long bias. Obviously, if you are an intraday trader trading short term positions on Facebook stock, you will have plenty of trading opportunities to buy and sell shares of Facebook stock or use all kind of stock options strategies to trade in any direction, bullish or bearish.
We can see in Facebook’s weekly timeframe attached below how all time highs around $224 per share have been broken and an imbalance is in the making around $216. For long term stock traders, swing stock traders and stock scalpers, there is only on direction to trade in this scenario, buying shares of Facebook stock.
You can use these imbalances to plan your trades in lower timeframes. Trading is just waiting for the right trigger points and scenarios to present themselves, this game has got a name and it’s called the waiting game. We need to patiently wait for the correct scenarios and setups to happen and wait for the price to pull back or dip into the price levels we want to trade, in our case these price levels are made of supply and demand imbalances.
If you want to learn how to trade using our supply and demand trading strategy, join our supply and demand stock trading course.
There are several ways of buying stocks and futures. When trading stocks, you can buy shares of the underlying stock or use options strategies to go long or short at these specific supply and demand levels, long calls or long puts or spreads. You can even buy a Facebook CFD (contracts for difference) if you are in a country where it’s allowed.
You can see more analysis like this in our best stock trend analysis page.
Disclaimer: Any Advice or information on this website is General Advice Only - It does not take into account your personal circumstances, please do not trade or invest based solely on this information. By viewing any material or using the information within this site you agree that this is general education material and you will not hold any person or entity responsible for loss or damages resulting from the content or general advice provided here by Set and Forget, its employees, or fellow members. Futures, options, and spot currency and stocks trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the Forex and futures markets. Don't trade with money you can't afford to lose. This website is neither a solicitation nor an offer to Buy/Sell spot Forex, cfd's, stocks or other financial products. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in any material on this website. The past performance of any trading system or methodology is not necessarily indicative of future results.
High Risk Warning: Forex, Futures, and Options trading has large potential rewards, but also large potential risks. The high degree of leverage can work against you as well as for you. You must be aware of the risks of investing in Forex, futures, and options and be willing to accept them in order to trade in these markets. Forex trading involves substantial risk of loss and is not suitable for all investors. Please do not trade with borrowed money or money you cannot afford to lose. Any opinions, news, research, analysis, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. We will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information. Please remember that the past performance of any trading system or methodology is not necessarily indicative of future results.