Thursday, September 20, 2012

3 Bullish Chart Patterns: Facebook (NASDAQ:FB), Pandora Media (NYSE:P), MetroPCS Inc (NYSE:PCS)

Facebook Inc(NASDAQ:FB) has a solid trading session on Wednesday as the stock jumped as much as 6.50% to close at its point since Early August. Noticeably, the stock crossed the 50-Day moving average ($22.46) for the first time since its debut mid May. After a lackluster debut, the stock has rebounded from its record low of $17.55 earlier this month and since then it has been showing impressive technical indicator. After yesterday’s breakout, the stock looks better buy for the short term and may be heading towards $27 zone (where the last setback for traders had started early August). Over the past one week the stock has soared 23% after Zuckerberg’s optimistic views on the company.  Moreover, there is a rumor that the company developing its own advertising networking by moving beyond its own site. Stay tune and get more updates on technical analysis in your inbox instantly Here

Pandora Media Inc(NYSE:P) is another stock which has been consolidating over the past couple of weeks after a slump early September On Apple’s Entry into Internet Radio Services.At the same time, the stock fell below the 50-day moving average. However, this week, the stock has shown strong buying activities which has pushed the stock back above its 50-Day MA of 10.21 and on Wednesday it was up 3.73% to $10.58. Also, the 50-day MA and the 200-Day MA is getting closer and now traders may want 50-day MA to cross above 200-Day MA. However, on Wednesday, the stock has high volatility as the stock came off session high of $11.12. Now, the next key resistance may be 200-Day MA of $10.72. Find Out More technical info here

MetroPCS Communications Inc(NYSE:PCS) has been showing  solid uptrend from its 52-week low of $5.53 in late June. The stock has more than doubled since then with the chart showing Higher Tops and Higher Bottoms. Yesterday, the stock was up 5.21% after Sprint's CEO comment. The stock is trading well above its 50-day and 200-day moving averages. Moreover. MACD histogram is back above the power zone for the first time in the past one month. The stock is likely to continue move higher with resistance at $12.16, which was its 52-week high on Feb 24, 2012. Get Further Technical Info Here

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