In Today’s Finance Show at Tip TV, we are joined by Ken Odeluga, Market Analyst at City Index, who offers the outlook for the STOXX 600, and the share price of Facebook (O:FB).
European equities remain where US was 18 months ago
Odeluga explains using technical charts in that the European equities are reflecting the central bank QE story. He notes how they are in the same situation where US equities were 18 months ago, with the trend highlighting the central bank backed QE program.
He further adds how the ascending long-term trendline is supporting the prices from all sort of lows.
While the long-term charts support higher prices, the shorter-term charts raises challenges, and the index could see a slide down, maybe related to the BoE Super Thursday and US NFP data releases.
Facebook: New high on cards?
Odeluga takes a look at the technical charts for the share price of Facebook, and believes that the stock might plot a new high.
Speaking on the results, he notes how the company is going in the right direction, having reached the 1.5Billion user mark, and doing good on monthly active user growth.