Facebook Wave Analysis – 26 August, 2020

• Facebook broke key resistance level 280.00

• Likely to rise to 300.00

Facebook continues to rise after the earlier breakout the key resistance level 280.00 (which stopped the earlier sharp upward impulse wave (5) at the start of August).

The breakout of the resistance level 280.00 continues the active medium-term upward impulse sequence (3).

Given the sharp daily uptrend – Facebook is likely to rise further toward the next round resistance level 300.00 (target price for the completion of the active impulse wave (3)).