Buy Facebook shares | 12 June 2020

Facebook shares Weekly Review 

Wave Analysis

During the previous trading day, facebook shares remains solid above the two simple moving averages and is still showing signs of continuing much higher. While the price is contained above the 200 period moving average and also above the 52 period moving average, I expect nothing but a possible momentum to the upper side, the idea is to wait for  a pullback to the lower side to pick a low risk buy position towards 246.30. As it is now, a pullback towards the 200 period will give us a good place to consider a long term buy position with an ultimate target around 250.00.

Trade Recommendations:

Look for buy positions with your target at 250.00.

Microsoft shares weekly review

Wave Analysis

After the massive decline seen earlier this week, Microsoft shares pulled back back to the upper side and is currently approaching a major resistance level 180.07. As long as the price remains below 188.07, we're expecting a possible bounce from it to pick a low risk buy position, but should the price breaks and closes above 188.07, then we expect further momentum to the upper side and should break above 188.07 towards 200.00 or even higher. This condition remains true while the price is held above the two simple moving averages, the 52 and 200 simple moving averages.

Trade Recommendations:

Buy  a break above 188.07 with your target at 200.00.

Natural Gas Weekly review

Wave Analysis

Natural gas continues to loose value even as the Brent oil is gaining. As long as the price remains below the two simple moving averages, I expect nothing but a possible momentum to the lower side, the anticipated bearish price rally is the continuation of the impulsive wave (v) to the lower side and should break below 1.5995 towards 1.495 or even lower. If the price pulls back to the upper side and even closes above the upper moving average, then this will be a good place to consider looking for low risk buy positions with our target at 2.185.

Trade Recommendations:

Continue short  with the last impulsive wave (v) with your first target at 1.595.

Bob Stan
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