Facebook pierces current resistance - Analysis - 17-07-2017

Facebook's stock (FB) rose in the intraday levels, scoring a fresh profit of 0.45% in the last session, or 0.71 points, while trading within an ascending price channel that guided recent trading, with positive support from the 50-day SMA, coupled with positive signals from relative power indicators, as the stock managed to breach the resistance of 159.14.

Therefore we expect more gains for the stock, targeting the resistance of 166.64, as long as it settles above 159.14.