Heikin-Ashi and the $15 Facebook in Barron’s $FB

A great benefit of using the heikin-ashi trend technique is the immediate confirmation of media stock reports.

This weekend Barron’s placed Facebook $FB on the cover with a price target of $15.

Leaving aside the price target, let’s look at a series of heikin-ashi charts (candles and haDelta) and see how $FB looks like in various time frames.

Daily: Getting weaker

2-day chart: haDelta at resistance and near important support

3-day chart: Weaker, at haDelta resistance

4-day chart: Weaker, haDelta close to resistance, ready to turn down

5-day chart: Overextended, haDelta above its previous high

6-day chart: Weaker, haDelta at resistance

7-day chart: Weaker, haDelta at resistance

8-day chart: haDelta overextended, above resistance

Conclusion? $FB looks weaker and having a multiple time frames top.