Since we still remain well of the highs, FB looks to be setting up a longer term triangle there should be another push up to complete WAVE B of the higher degree triangle. I will look to play the short side upon completion of the B wave. Price targets to follow...
Comment:
Price target for completion 207-210; however, FB cannot break above the previous highs. downside movement is more imminent that upside in my opinion.
Trade active:
The stock hit 200 after the close into the earnings. We may move higher than I initially intended; however, to be confirmed. Short term bullish FB to 207-210.