Facebook will likely spend over a billion dollars on content production. The company has recently launched ‘Watch’ a new subsection on its website for viewing videos. Facebook is moving to capitalize on shifting ad dollars as ad dollars shift away from TV. For the first time, ad spending on digital surpassed TV ad spending last year. You can see Facebook Watch in action here.
The chart of Facebook shows a good setup pattern on rising Twiggs Money Flow and large players volume. Recently a Pocket Pivot signal was observed. Prices have been consolidating lately setting up a momentum squeeze play:
Facebook stock has a resistance zone just above the current price starting at $173.52. Right above this resistance zone may be a good entry point. There is a support zone below the current price at $171.03, a stop order could be placed below this zone.
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