Facebook Breaking Out of Price Channel

The price channel that has been controlling the price of Facebook for over 3 months has finally broken out to the upside. Alert set on the middle weekly Keltner band. Is technology breaking out a sign of the start of the market turning?

 

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Must be a turn for FB; also closed above 50dma.
They had a huge sell off earlier.

 

So what? FB breaks out of a price channel every day. Just adjust the timeframe.

 

Facebook (FB) Raises Buyback Plan by $9 Billion. (December 10, 2018 )

Short is running to cover.

 

?... Closed 144.5. Well below the 50 day

 

How do channels control price?

 

Might it be a good idea to provide a back test in support? Easy enough to show what would have happened historically on all such occasions in the past.

 

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True, @ the end of that day,but its still going up+ below 200dma.[On IBD weekly chart it still looks like it closed above 50dma , but not on daily.]

IBD founder said ''i dont know why so many like ETFs-I can make more money on single stocks'' I do ; including but limited to, one can lose less on ETFs +not hassle with earnings shock.....

 

80% of bo’s fail. Eventually one will succeed. Odds favor this one failing.

 

They don’t. PA controls/creates the channels. Channels are simply a grafical way of noting what PA is doing and “how” it is doing with whatever it is doing.