If $FB will open the new trading week above 116$ and remain above that zone, it can continue higher to complete a pattern near 124$. I am not for buying stocks which are in All Time Highs territory, but if you are holding Facebook's stock, you can probably hold it for a little longer as long as it remains above 116$.
$FB was the one of only Social Media/Tech stock that I didn't issue a setup for it to the Elite Zone members. Now again I'm interested in shorting $FB I'll focus on one of these two price zones:
- 115$ - A close below 115$ will create a False Break to All Time Highs.
124$ - pattern, re-test of trading channel's bottom and extreme overbought conditions
For the second price zone, targets can be 116.5$ and 110$
Tomer, The MarketZone
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Waiting for completion of bearish Crab