Facebook Inc, Twitter Inc And Nvidia Corporation - Today's Technical Trading Ideas

Facebook Inc (NASDAQ:FB) Stock Finds Support At 50 Day Simple Moving Average.

Shares of Menlo Park, California-based social media giant, Facebook Inc (NASDAQ:FB) found support at its 50 day Simple Moving Average (SMA) of ~144, moving higher to close the day at $147.6 a share in yesterday's trade. However, the stock now faces resistance from its 20 day SMA. Facebook's stock price fell below its 20 day SMA a few days ago, and the moving average has acted as a support for the stock over the course of 2017, barring a brief phase in April, when the stock price breached the 20 day SMA before rising back again. At its current level of $149.15, the 20 day SMA is poised to act as the next resistance for FB stock. If the stock manages to breakout above the 20 day SMA today, you might see further upside. Facebook's stock price is also nearly touching the lower Bollinger Band, which indicates an oversold position. So, an uptick on this counter shouldn't come as a surprise.

FB-technical-chart

Twitter Inc (TWTR) Stock Poised For A Bearish MACD Crossover.

Shares of San Francisco, California-based Twitter Inc (NYSE:TWTR) have had a hugely successful run since the company reported its first quarter earnings. While the stock's uptick was driven initially by better than expected numbers and a slightly improved user growth rate, the platform has received one positive trigger after another, starting with its 24-hour live streaming deal with Bloomberg, to its recent deal to live stream exclusive non-game NFL content. The result has been a 26% plus rally in under a month. With a big down day two days ago, though, that momentum seems to have broken. Twitter's Moving Average Convergence Divergence (MACD) is on the verge of making a bearish crossover, which could see it fall below the signal line. This is typically seen as a bearish signal and could trigger a near-term correction.

twitter-technical-chart

Nvidia Corporation (NASDAQ:NVDA) Stock Is On The Verge Of A Golden Cross.

Shares of Santa Clara, California-based NVIDIA Corporation (NASDAQ:NVDA) have had a very volatile year so far. After starting the year fairly well, NVDA stock saw multiple corrections and rallies. However, the stock has had a stellar run after the company reported solid earnings for Q1. The stock is now up by close to 30% since then. Yet, technical indicators suggest that the stock could have further upside left. With newfound momentum, the stock's 20 day SMA recently broke out above the 50 day SMA and then the 100 day SMA. Now, Nvidia's 50 day SMA is poised to breakout above the 100 day SMA, which in technical parlance, is known as a Golden Cross. Essentially, a Golden Cross is made when a shorter term moving average rises above a longer term moving average, and is seen as a bullish signal. If the stock's recent momentum is anything to go by, you could expect the stock to tick higher today.

NVDA-technical-chart

 

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Vikram Nagarkar Vikram Nagarkar   on Amigobulls :

Neither Amigobulls, nor any members of its staff hold positions in any of the stocks discussed in this post. The author may not be a certified/registered investment advisor, and the opinions expressed should not be treated as investment advice.

Buying and selling of securities carries the risk of monetary losses.Readers/Viewers are advised to carry out their own due diligence and consult their investment advisors before making any investment decisions.

Neither Amigobulls, nor the author have any business relationship with any of the companies covered in this post.

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