If the intermediate trend line doesn't hold we could see support come in at the areas that have been highlighted.
If we do see a bounce of the intermediate trend line, we should see a squeeze past $40. Of course, earnings will obviously be the main deciding factor in direction over the shorter term..
As the trend line broke on $FB with today's gap down and flush, we saw some capitulation that coincided with a 38.2% Fibonacci retracement. Looking for a short term bounce towards $31 at which point I expect a reversal and further downside until we fill those gaps below and approach some solid support.
