TradeCobra

Facebook Losing Bull Traction? Channel Spotted..

NASDAQ:FB   FACEBOOK INC
The current upward channel has been good signs for you bullish bag holders as we did break higher overall.

We need to keep in mind of were we currently sit on the upward channel though.

3 previous touches on this level of Resistance signaled selloffs to occur.

The green horizontal line is previous breakout for a new high, we yet to retest that price.

No way that I'm looking to long here too risky, I would like to see a pullback.



Best of luck.

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