I'm not seeing strong signals anywhere here (and too bad, I am long a 9-6 strangle).
Volume has been petering out, the price has lazily crept around it's historical support and resistance levels since the 10th of February.
MACD looks like it's going to cross upwards soon, which may bring in some more volume and move the price up a bit.
All I can do is hope for...
At close today we had the MACD crossover while the price rested on the bottom of a symmetrical triangle pattern. I could see breaking through the near support lines and falling to $2.90 fairly quickly if we break the bottom of the triangle.
This is the pattern I'll be looking to emerge, I'm still looking for a short term exit before jumping back in. At point A we have the top of a wedge resistance line, if we can bounce from where we have currently dropped to that point and then down to the lower resistance at 225.32 and then at least touch the middle of the pitchfork I'll look forward to an upward...
Planning to exit around $243 and expecting to fall through the triangle down to the support zone. If the 241.67 resistance line becomes support by the end of the month we may be looking to climb higher.
Even though it's oversold on the 1min chart it's showing overbought on 4hr. We could see a quick downturn soon, I don't know of any fundamental reason why $FB should keep going up. (This chart is just a response to an idea I saw on stocktwits)
