U.S. stock indices closed Wednesday's trading at record highs after the inauguration of U.S. President-elect Joe Biden, who became the 46th president of the country. The Standard & Poor's 500 rose 52.94 points (1.39 percent) to 3,851.85 points.
Our Analysis:
Provided that the index is traded above 3816.00, follow the recommendations below:
Time frame: H4
Recommendation: long position
Entry point: 3855.00
Take Profit 1: 3894.00
Take Profit 2: 3919.00
Alternative scenario:
In case of breakdown of the level 3816.00, follow the recommendations below:
The stock was down 7 percent at the end of last week on a modest gain for the S&P 500, and the business faces many new difficulties. WhatsApp users are reportedly leaving the app in search of alternatives such as Signal and Telegram after Facebook published a new data-sharing policy, and the tech giant is at war with fellow FAANG, Apple, over changes to iOS 14 that require Facebook to obtain authorization from users to enable some data-tracking tools.
However, if you're considering shorting Facebook right now, this assumption may be short-sighted. Below are the most common but mistaken judgments to sell the stock.
Our Analysis:
Provided that the price is below 271.90, follow these recommendations:
Time frame: D1
Recommendation: short position
Entry point: 261.10
Take Profit 1: 238.60
Take Profit 2: 231.20
Alternative scenario:
In case of breakout of the level 271.90, follow the recommendations below:
Risk Warning: Forex and CFD trading carry a high degree of risk. As such they may not be suitable for all investors. Investors should ensure they fully understand the risks associated with CFD trading before deciding to trade. Investors may choose to seek independent advice and should not risk more than they are prepared to lose.
