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Spofas
Jun 8, 2015 10:55 AM

FACEBOOK - Momentum weakness Short

Meta Platforms, Inc.NASDAQ

Description

Clear momentum weakness on this upswing as demonstrated by this 4/6H divergence on the MACD. Sell sign on the RMI.
If it does get another leg on it and I get stopped, I'll reshort higher.
Comments
FDNYret
Stay short next week, you'll be glad you did. Weekly Doji at the top and a daily Doji on Friday. The big news is that FB is being examined by the IRS. Tax credits taken for tax loss carryforward that are not transferable with a change of ownership, such as the case with the FB IPO. Good Luck.
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