Hi Traders,
As you see on the chart fb is creating a descending channel. However it seems that it is a good spot to enter long. Why ?
1.- bullish divergence on MACD
2.-Touch the support line of the descending channel
3.Rsi oversold and support on the rsi
4. Empty space 190- 200 that needs to be filled
5. earnings on 30 october for fb comming
6.- The Nasdaq seems to approach asupport for a potential rebound
7.- Remember october as awlays been a very volatile month
Stoploss : 141 dollars
Targets:
1.155 dollars (medium term - 10-14 days)
2.170 dollars (IF IT BREAKS THE DESCENDING CHANNEL) Medium term ( 1 month)
3.209- to new highs (VERY CAREFULL) long term (2 months - … VERY RISKY)
As you see on the chart fb is creating a descending channel. However it seems that it is a good spot to enter long. Why ?
1.- bullish divergence on MACD
2.-Touch the support line of the descending channel
3.Rsi oversold and support on the rsi
4. Empty space 190- 200 that needs to be filled
5. earnings on 30 october for fb comming
6.- The Nasdaq seems to approach asupport for a potential rebound
7.- Remember october as awlays been a very volatile month
Stoploss : 141 dollars
Targets:
1.155 dollars (medium term - 10-14 days)
2.170 dollars (IF IT BREAKS THE DESCENDING CHANNEL) Medium term ( 1 month)
3.209- to new highs (VERY CAREFULL) long term (2 months - … VERY RISKY)
Trade closed: target reached