US EQUITY TURNED GREEN - BEST DAY IN 3 YEARS

US equity market turned up green on Thursday for its best day in past three years. Investors enjoyed the optimistic economic projections for the US economy and unemployment dropping further. With the delay in interest rate increase, market participants are having a positive outlook for the economy and consequently the stock market. With no major data due on Friday, market is expected to trade in range with less volume.

Recommendation Buy Above $78.50

 

Target $81.50

BULLS OF THE STREET (NYSE)

Name	Close Price ( $ )	Change %
First Marblehead	04.82	128.44
Mobile Telesystems ADS	08.00	24.42
BBX Capital CI A	15.50	16.02
Valero Energy Partners	42.00	13.30
Frontline	02.58	12.67

BEARS OF THE STREET (NYSE)

Name	Close Price ( $ )	Change %
RCS Capital	09.96	15.35
Constock Resources	05.89	14.01
Nuverra Environmental Solutions	06.51	12.85
Worthington Industries	31.36	11.39
Kirby	80.31	09.51

 

FACEBOOK INC

STOCK SUMMARY

 
Facebook Inc is overall in bullish trend and is sustaining at higher levels on chart. Traders can buy the stock above the level of $78.50 which is a near term resistance level for the stock and if it manages to breach this level further bullish movement is expected in this stock to test the levels of $81.50.

CHART FORMATION

 
Stock is in bullish trend for near term and price is taking support from trend line with good consolidation on daily chart. Near term breach of resistance level of $78.50 is expected which would trigger further bullish sentiment in the stock to test the levels of $81.50.

INDICATORS

 
RSI is trading with positive bias and is sustaining above the level of 50.
In MACD signal line is sustaining above MACD line which  is indicating bullish sentiment in the stock.

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