DavideG
Short

FB - Set to Roll Over

NASDAQ:FB   FACEBOOK INC
354 3 3
FB             has surged 230% since mid-2013, but it looks like buyers are now losing their appetite. Long-term TL broken in mid-January, and rejected on the back test earlier this week. Trend is supported by a long-term RSI divergence, which has consolidated in a wedge and is now breaking to the downside. As illustrated, rally since Apr '14 has also occurred on low volume . I drew this chart a month ago and it has played out very closely with my forecast - so I'm sticking by it. Took this trade earlier on 1.23.15, entry at $77.27 - first target is $72.5.

1.29.15 - 1:11am EST
sigmadict
2 years ago
I have the same exact trade haha nice one ! I like your chart, thanks.
Reply
DavideG sigmadict
2 years ago
Thanks sigma. So far so good!
Reply
IanLip
2 years ago
Like the chart and with ya, FB does look like its losing steam
Reply
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