FB: Facebook rally?

I went short FB             today after witneseeing an extreme in sentiment, with lack of follow through after earnings . I like specially how it closed today, and expect to see rapid downside next week. If not short, enter at next week's open, risking a move above 128.33.
We can see that price has traced an uptrending linear regression channel if we anchor the start and end with the previous two quarters' reporting dates' close, and we use 2 standard deviations to obtain the channel. Earnings sent FB             up hitting this channel top, and also failed to make a new high in Rgmov, which is bearish . Today's activity, after the exhuberance of hitting 4 standard deviations up above the linear regression trend from Q1 to Q2's earnings report dates, confirms my hunch that this was indeed a top in FB             . The close is specially reassuring, and I expect to see downside continuation from here onwards. I aim for 113.52 at the very least, but it could break that support and head lower to 102.27. My entry was at 124.48.
Good luck if you're in, or looking to join me next week.

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Ivan Labrie

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Risk disclaimer: My analysis is provided as general market commentary and does not constitute investment advice. I will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance             on such information.
Thank you for idea! I have similiar view
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