FB has fallen over $50 in the previous month and does not look to make a meaningful reversal soon. FB bounced off its long-term uptrend line, but it met resistance at it short-term downtrend line.
- The four hour time chart shows the stock is $15 under the 200 EMA
+ quiet bearish
- Slow Stochastic is showing a down trend
+ rejection off downtrend that it has been respecting
Fibonacci has marked potential reversal at $313; this support level has about twenty touches in the past. Looking for candle close below $326.
PT1: $320
PT2: $313
** with the potential announcement of tapering October 13 I would not be very bullish at this point
- The four hour time chart shows the stock is $15 under the 200 EMA
+ quiet bearish
- Slow Stochastic is showing a down trend
+ rejection off downtrend that it has been respecting
Fibonacci has marked potential reversal at $313; this support level has about twenty touches in the past. Looking for candle close below $326.
PT1: $320
PT2: $313
** with the potential announcement of tapering October 13 I would not be very bullish at this point
Trade closed: target reached
PT1: $320 reachedNote
Riding FB to resistance level
PT: $326
Trade closed: target reached
Reached temporary PT: $326
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.