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Daily W%R Divergence:Bullish
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Williams' Percentage Range (W%R)

Williams' %R is an effective momentum indicator that measures overbought/oversold levels. Like other indicators, W%R ranges between 0% and 100% , but in opposite to the other indicators, the 0% indicating overbought and 100% - the oversold stocks. W%R measures the closing price in relation to the recent low/high range. A bullish signal is generated when the W%R has reached 100, five time bars have elapsed, and the W%R has subsequently fallen to 95. A reverse signal is considered as bearish. For the sake of simplicity, the W%R closed above 10% is considered bearish and below 90% - bullish. In trending markets, the W%R stays at one end of the scale and gives false signals to trade against the trend. That is why W%R is not considered a stand-along technique, and it is essential to use it with some sort of trend formation indicators. The divergence between price and W%R rarely occurs and presents an important buy/sell signal. As our research shows, the W%R move to upper or lower bounds can be used as an earliest signal of an impending reversal. Using the Williams %R bullish divergence/bearish divergence, chart patterns, trendlines, support, and resistance lines along with the W%R chart can be very useful.

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- 5/10/2024 -
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Facebook (FB) Technical Analysis

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Summary:
Weekly :Trend support at 480.55
Daily :Lane's Stochastic is overboughtDaily  MACD line has moved above its signal lineThe price moved above the moving average in the center of the Bollinger Bands
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It was a second positive week after 3 consecutive negative weeks for the Facebook (FB). During the week, the FB gained 24.24 points, or 5.36%, and closed at 476.20 on Friday, May 10, 2024. Weekly volume was -40% below average.

Long-term trend: [See FB long-term trend chart]
A long-term uptrend had started on November 4, 2022 at 88.09 and reached 531.49 on April 8, 2024. FB gained -443.40 points, or -503.35%, in 74 weeks. The chart has formed a Rising Channel chart pattern. The price is near the trend support (480.55) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a long-term trend.

Medium-term trend: [See FB medium-term trend chart]
A medium-term downtrend had started on April 8, 2024 at 531.49 and reached 414.50 on April 25, 2024. FB lost 116.99 points, or 22.01%, in 2 weeks. The price is now at the 52.74% retracement level.

Weekly Technical Indicators: [See FB weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since April 19, 2024. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.

Short-term trend: [See FB short-term trend chart]
A short-term uptrend had started on April 25, 2024 at 414.50 and reached 477.45 on May 10, 2024. FB gained -62.95 points, or -15.19%, in 15 days. Price is near the trend high.

Daily Technical Indicators: [See FB daily technical indicators chart]
Daily Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.

During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.

During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 47.88
Williams' Percentage Range (W%R) 39.80
Lane's Stochastic (%D-Slow) 87.57
Overbought
Greed/Fear Indicator (GFI) 65.20
Moving Average Converg./Diverg. (MACD) -9.63
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 50.22
Williams' Percentage Range (W%R) 28.00
Lane's Stochastic (%D-Slow) 47.54
Greed/Fear Indicator (GFI) 56.62
Moving Average Converg./Diverg. (MACD) 46.64
Trading Signals
Description Value Chart
Yearly Trendline Resistance 547.08
Upper Bollinger Band 519.24
50 Day Moving Average 489.32
Yearly Trendline Support 480.55
Price 476.20
Daily Stochastic Crossing 475.47
20 Day Moving Average 469.34
Weekly Stochastic Crossing 459.78
Parabolic System 451.75
Lower Bollinger Band 423.04
Sector and Industry
Description Name Rank
Sector Communication Services 6
Industry Interactive Media & Services 107
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 414.50
Low Date 04/25/2024
High 477.45
High Date 05/10/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 414.50
Low Date 04/25/2024
High 477.45
High Date 05/10/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 414.50
Low Date 04/25/2024
High 477.45
High Date 05/10/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 531.49
High Date 04/08/2024
Low 414.50
Low Date 04/25/2024
Description Value
Direction Up
Chart Pattern Rising Channel
Status Test Support
Resistance 547.08
Support 480.55
Low 88.09
Low Date 11/04/2022
High 531.49
High Date 04/08/2024
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.