Facebook, ABCD pattern analysis
Updated
If the price breaks the 175.5 resistance level with good volume the pattern would be confirmed, but pay attention to the trendline , if the stock breaks lower, it wouldn't be a good signal. The minimum target is around around 189.
The informations and the strategies discussed are NOT recommendation to buy, sell or trade any securities. They are strictly for educational and illustrative purposes.
The informations and the strategies discussed are NOT recommendation to buy, sell or trade any securities. They are strictly for educational and illustrative purposes.
Note
The retracement is not finished, the price isn't ready to break the 175.5 level yet. The trendline has been broken and the price is consolidating. There are not strong bearish signals. The target remains the same when the stock will break the resistance.
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