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Tuesday, September 10, 2013

Elliott wave analysis of Facebook - Next major target at 59.66


Facebook

A Little more than a year ago, when Facebook was at 21.00 I made this post: http://theelliottwavesufer.blogspot.dk/2012/08/facebook-monthely-close-basis-facebook.html

I have now updated the chart dating back from April 2008. It's a monthly chart showing the opening Price of every month. On this chart we have broken above the IPO Price at 36.00, but not yet broken above the top at 42.72 (intra day high at 45.00). I expect we will spike the old high for a move closer to 46.90 before a correction towards 42.00 and maybe even down to 37.75 before the next rally higher towards 59.66 as the target for this red wave 3.
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4 comments:

  1. UnknownSeptember 10, 2013 at 9:08 PM

    Hi EWs,

    Could you please have a look at Nu Skin Enterprise. Stock quote NUS. I've spotted some interesting perspective on this one. Let's exchange our view on NUS

    Regards,

    Duc

    ReplyDelete
  2. Elliott wave surferSeptember 11, 2013 at 5:45 AM

    Hi Duc,

    I will take a more detailed look at it later, but for a quick note I think we are in wave five for a move higher towards 107.70.

    I don't have data going back to more than September 2012. Do you have more data?

    By the way I have added you to my blog list.
    Nice job you are doing. Keep up the good Work.

    Kind regards
    EWS

    ReplyDelete
  3. UnknownSeptember 11, 2013 at 9:41 AM

    Hi T,

    Thanks for your quick view on NUS.

    I agree with you that the market is in wave 5. NUS is coming close to important wave ratio relationship. The market could be close to a top, and this view is in line with your view on DJI to go massively lower on this post http://theelliottwavesufer.blogspot.com/2013/09/elliott-wave-analysis-of-dji-eurusd-and.html

    http://d.pr/i/Bh4A - Monthly chart

    http://d.pr/i/SAm0 - Weekly chart

    Here's my question for you, is NUS in 5th of 5th of 5th? Please have a deeper look into NUS and share your view :)

    I'm using Net Dania free register version, the data span back to 1998
    http://www.netdania.com/Products/live-streaming-currency-exchange-rates/real-time-forex-charts/ChartStation.aspx

    I also add you to my bloglist. Thanks for the cheering up words.

    Have a great day T

    Duc


    ReplyDelete
    Replies
    1. Elliott wave surferSeptember 11, 2013 at 5:17 PM

      Hi Duc,

      Regarding NUS I think we are close to ending wave iii of 5 and after a correction (wave iv of 5) Down to 82.16 we should see the last rally higher towards 107.70 (wave v of 5) and then a major downturn.

      Kind regards
      EWS

      Delete

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