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Long

FACEBOOK- Bullish Momentum to 91.80!

NASDAQ:FB   FACEBOOK, INC.
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Daily Analysis and Trading Recommendations for the short- term investors on FC .
The daily trend according to the daily time frame is in an Uptrend technically indicated by following:
• Dow pattern- higher bottoms and higher tops- B1,T1,B2,T2
• Price is currently trading above the Uptrend-line.
The uptrend is confirmed by the bullish cross of MA10 above MA20.
Prices are trading above the support level 85.93(support 2).
Therefore, I will recommend LONG POSITIONS for the no position holders on FACEBOOK . Take profit at 91.81(R1) the 161.8% Fib extension level. Stop loss should be a bit below the support level-S2, thus the stop loss is at 84.00.
For LONG-holders I will recommend to HOLD their long positions and adopt the same stop loss and take profit orders as mentioned above.
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