themarketzone
Short

Bearish Butterfly confirmed last Friday

NASDAQ:FB   FACEBOOK INC
Bearish Butterfly pattern was confirmed last Friday as $FB declined below 107$.
The 107$ and the Fast SMA line now act as resistance and a zone to place protective stop loss above.
The first target zone for this setup is the 100$ zone, which is the top of the Rising Wedge pattern you see in the chart.

Next target levels, if $FB will decline below 100$, are 95$ (200 SMA line) and 90$ (major structure zone)

Tomer, The MarketZone
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