Facebook is taking a dive after hours, but I believe this is yet another opportunity to buy the dip. If we close above the previous 2018 lows for the rest of this month, expect FB is entering a wave 4. It will likely involve a swift "fade" higher, perhaps to 195-200, a hard rejection, and a slow, arduous battle for control between buyers and sellers for the rest of the year, perhaps producing some type of falling wedge or triangle pattern on the longer timeframe charts. IF Facebook continues to hold above 150, we will eventually see some sort of reversal signal (Double bottom or inverse head and shoulders for instance), signaling to traders that it is "time to buy" again. I would expect this signal to occur around the low 160's. The next bullish move should be fast and furious and could eventually result in new ATH's, or at least a test of previous highs. However, if at any point FB takes out the previous 2018 lows, we can assume we have finished a wave 5 and should expect another LOWER low after the initial fade higher. while the current dip is buyable either way for short-term traders, longer-term investors should take heed and sell FB on any bounce near 185-195 if given the opportunity if this lower low should occur anytime soon, as the next phase would be expected to include a C correction or even a complete trend change where the lower 130's are likely to be tested. While I don't anticipate this to occur before breaching 200 once again as long as 150 holds, be on close watch for that lower-low to signal whether we are entering a longer wave 4 or a faster, more volatile corrective phase.