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
This analysis is part of the Weekly Markets Analysis newsletters
To read more interesting technical reviews for the week- http://goo.gl/TFUjbZ
To subscribe to the newsletters - http://goo.gl/JfOLoR
English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体
台灣
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out