lauralea

Pulling Back

NASDAQ:FB   Facebook, Inc
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2
There is a gap under price. If price delves down in to this gap then price will most likely go to the bottom of this gap. There is usually little or no price action in a gap. The top is support though. If price enters it, then the bottom becomes support.

I do not see any rising wedges in the yearly chart.

FB was outside the bands, over the top band set on an 80 DMA before earnings . Now price is back inside.

The 80 DMA is sloping up as is the 50, 100 and 200. Appears to be a temporary set back I suppose but does look like a pull back ensuing.

FB hit targets and sometimes the market is just not willing to go higher on a security for the time being. Folks have their gains and turn in to sellers.

No recommendation. Just maybe wait for a good long entry level. Possible rising wedge but has been a bit too short information, but the apex is narrowing.

I think earnings were good but there hints of some regulation in the future. A politically connected security I suppose like TWTR and I have not figured out if this is a good thing or a bad thing )o: I just do not mess with FB unless it is at such a great price that I can not resist (o: They do the government's dirty work because the government is not allowed to censor speech. So they have FB and TWTR do it for them. This I do not like so not sure I will ever buy this. I know I will not buy TWTR .
Comment: I misquoted. This was in a RW at earnings. I must have been in la la land because FB was in a RW at earnings.

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