- $FB is bullish overall since price is above the Kumo (cloud)
- Turned bearish when price closed below Kijun Sen and turned bullish again when price closed above Kijun Sen
- Tenkan Sen and Kijun Sen are flattening which suggests sideways trading
Daily Chart- $FB turned bearish after crossing below the Kumo (cloud) at the end of April
- Price has moved into the cloud which represents stasis
- Leading Kumo is red which is bearish
- Price needs to close above the cloud to exhibit upward momentum
Conclusion$FB is neutral at the moment. Price needs to close above the cloud for it to exhibit upward momentum. Nimble investors should be patient until weekly chart shows that price is above Tenkan Sen before investing. Aggressive investors can scale in and treat the current environment as a pullback in an uptrend and use stops
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