Facebook Continuation in the bull market?
Updated
Looks like Facebook is going to resume the uptrend:
1) Stock Finding support at 194.50$ (horizontal green line);
2) Yesterday's candle having long tail on support, equivalent of buying pressure (see green
eclipse);
3) Positive reversal, indicating a corrective price move ( see vertical dotted lines);
4) RSI finding support at 55% level, sign of market strength;
Trading implications:
Buy at market open;
Stop on a 2 days close below 194.50$ or 2% break below it;
Target 203.40$ (1st);
1) Stock Finding support at 194.50$ (horizontal green line);
2) Yesterday's candle having long tail on support, equivalent of buying pressure (see green
eclipse);
3) Positive reversal, indicating a corrective price move ( see vertical dotted lines);
4) RSI finding support at 55% level, sign of market strength;
Trading implications:
Buy at market open;
Stop on a 2 days close below 194.50$ or 2% break below it;
Target 203.40$ (1st);
Trade closed: target reached
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