FB, ROKU, TSLA updates 03/19

FB: had to update this chart of course, as it’s getting clearer now 🙂 Clearer is good as it reduces uncertainty 🙂  Price should now ideally be in intermediate-c of major-4. Today’s news certainly adds credence to it.  Price is holding on to it’s 200d SMA, but will likely loose it going forward. Note how all the SMAs are starting to roll-over: bearish. Price is thus also below almost all SMAs: bearish.  Since c-waves are anywhere between c=a to c=1.618x a, I can’t foretell exactly where price will bottom, so we’ll have to watch how price reacts at each extension. First target: $159. Second target: $149, Third target $143. All daily TIs are pointing down wanting to see lower prices. Cont’d below.

FB daily

My long term target for major-4 has always been around $150-$140 (see below) at the lower black downtrend line.  We may finally get there. Than after that I expect major-5 to take price back up to $220s. Note how the weekly TIs are now all pointing down/on a sell, wanting to see lower prices on the weekly time-frame as well.

fb weekly

Not shown here, but if you had bought FB on its last renewed close above its 200d SMA, which was early 2017 at ~$121, one would now sell it on a close below its 200d SMA, at around $170. That’s an almost $50 gain/share; netting you >40% in profits. All without 1 single headache. This is how simple trading can be, and one would have been in this position for 15 months.  KISS!!

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ROKU: Is now clearly in a confirmed Primary II wave, ideally targeting $25-$23 for a 76.40% retrace and a c=1.618x extension. For now, price is extremely oversold and at the c=a extension, ready for a bounce IMHO to retest the 20d and 50d SMAs from below and likely fail. Big call buying today as well. That should then be intermediate-b of major-c. Given that price is so oversold (per the RSI5) a lower low is often a given, as momentum is strongly down.

ROKU DAILY

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TSLA: Clearly shows what happens when price moves below its 200d SMA… ouch. Also clearly shows what happens when it moves above its 200d SMA: firm uptrends are often established. This whole price action still has me looking more down than up, especially as it fails to retake the 200d. A break below SUPPORT targets ~$270 (1.382x a extension). It can’t overlap with the prior (black) major-1 high because than we either had A) only 3 waves up off the blue primary II low made in February 2016, suggesting TESLA did one large ABC up since it’s IPO. Or B) we’re looking at a huge intermediate-i wave since the (black) major-2 low made mid-November 2016… But I find that much less likely since price has tagged the 1.618x extension for major-3 to the T. Intermediate-i is most often not larger than major-1, but smaller as it’s a lower degree… Thus TSLA Bulls will be on watch for the longer term.

TSLA daily