Facebook Inc, Amazon.com Inc and Twitter Inc – Today’s Technical Stock Trading Ideas

Facebook Inc, Amazon.com Inc and Twitter Inc – Today’s Technical Stock Trading Ideas

Facebook Inc (NASDAQ:FB) Stock Looks Set For Higher Ground.

Shares of Menlo Park, California-based Facebook Inc (NASDAQ:FB) have already gained by nearly 35% this year, and this great run only looks set to continue. In the week gone by, we highlighted how Facebook owned Instagram has proved its dominance over Snap Inc’s (NYSE:SNAP) Snapchat. Instagram has garnered over 250 million users for its ‘Stories’ feature, a copy of Snapchat’s once unique feature, ironically also known by the same name. Instagram’s tally of Stories users, now towers way above the overall user base for the Snap-owned app. Meanwhile, Facebook seems to be working out ways to monetize WhatsApp, which has over 1.2 billion MAUs globally. Together, the two opportunities could drive long-term growth for the social media giant.

Coming to the technicals, FB stock has found support at its 20 day Simple Moving Average (SMA). After falling below this key SMA a few days ago, Facebook’s stock price has managed to stay above it over the last few trading sessions. Whether you look at the Bollinger Bands or the Relative Strength Index (RSI), the stock isn’t currently in overbought territory, implying that there’s potential for upside. Further, the stock saw a bullish Moving Average Convergence Divergence (MACD) crossover, with the MACD rising above the signal line on Thursday. This further reinforces the bullish outlook for the stock.

Facebook stock technical chart - FB

 

Amazon.com Inc (NASDAQ:AMZN) Looks Poised For An Uptick.

Shares of Seattle, Washington-based Amazon.com Inc (NASDAQ:AMZN) recently crossed the $1000 a share milestone. While AMZN stock seems to be headed way higher in the long run, the near-term also looks promising. The 20 day SMA has proven to be a strong support for the stock over the last few months, with only a few, temporary corrections dragging the stock below the key moving average. Amazon shares have managed to bounce back higher each time after a brief sojourn. The stock has found support at the 20 day SMA yet again. And given the way the charts are shaping up, AMZN stock could be headed even higher. The stock isn’t overbought in spite of the strong rally.

While Amazon stock has gained by close to 34% this year, it has moved up by just 1% in the last one month. Be it the Bollinger Bands or the RSI, neither indicator suggests an overbought condition. Further, Amazon’s MACD looks set to make a bullish crossover by rising above the signal line. If the MACD crossover plays out, there could be more upside in the coming days.

Amazon stock technical chart - AMZN

 

Twitter Inc (NYSE:TWTR) Stock Looks Set To Head Higher.

Shares of San Francisco, California-based Twitter Inc (NYSE:TWTR) have rebounded after a rather weak period following the company’s Q1 earnings release. Shares of the micro-blogging platform are up by over 12% in the last one month, and the rally looks set to continue. For starters, Twitter’s stock price has gone past most key moving averages (SMAs), including the 20 day SMA, the 50 day SMA and the 200 day SMA. In fact, Twitter’s 50 day SMA looks set to make a Golden Cross, as it is poised to rise above the longer term 200 day SMA. This is a bullish sign, especially given how the other indicators are already reflecting optimism. The MACD just made a bullish crossover with the signal line towards the end of last week, while the RSI shows that there’s still some way to go before the stock enters the overbought zone.

Twitter stock technical analysis-TWTR

 

Looking for more technical stock trading ideas? Check out our daily stock trading ideas section. If you’re also looking for fundamentally solid stocks, check out our top stock picks, which have beaten the NASDAQ by over 140%.