Facebook Searching For New Support! (FB)
Updated
I had a request from a follower earlier today to review facebook stock, let's have a look 😁
We are traveling in a clear controlled parallel channel to the upside from the recovery of the massive selloff.
12hr and up are all firing green and now breaching the past the 232$ old Resistance and trying to turn it into new support. (Horizontal support)
We are also turning for a push off the upward channel support.
I like that it did push for the highs.
All indicators are from the ema dots and the Crossover strategy are shooting green!
Your next breakout level will be 237.51, a push up we will travel to the top of the channel.
When the candle compresses and fires red with the ema dots indicator that's where we will look for a sell at the top of the channels Resistance or a break out of the parallel upward channel through the bottom of support.
For now it looks good to continue to sit on.
We will see how strong the old Resistance becomes for a potential new support.
If channel were to break and drop below 223.14 we would then look for a short on a distribution play.
Best of luck to you, have a blessed day!
Want me to review a symbol? Message me directly and don't forget to smash that like button! 💯
🥇MLT | PRO TRADERS
We are traveling in a clear controlled parallel channel to the upside from the recovery of the massive selloff.
12hr and up are all firing green and now breaching the past the 232$ old Resistance and trying to turn it into new support. (Horizontal support)
We are also turning for a push off the upward channel support.
I like that it did push for the highs.
All indicators are from the ema dots and the Crossover strategy are shooting green!
Your next breakout level will be 237.51, a push up we will travel to the top of the channel.
When the candle compresses and fires red with the ema dots indicator that's where we will look for a sell at the top of the channels Resistance or a break out of the parallel upward channel through the bottom of support.
For now it looks good to continue to sit on.
We will see how strong the old Resistance becomes for a potential new support.
If channel were to break and drop below 223.14 we would then look for a short on a distribution play.
Best of luck to you, have a blessed day!
Want me to review a symbol? Message me directly and don't forget to smash that like button! 💯
🥇MLT | PRO TRADERS
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