jefftan
Long

FACEBOOK : Gap cross-over to new old frequency

BATS:FB   FACEBOOK INC
635 3 5
You can see how news conformed to the market structure as price gaps up nicely to the newly formed median line (ML).

This beautifully describes the price as it is forming the beginning of a new trend into the Upper Band and also joining the old frequency band if you look at the previous Upper Band sometime before mid April 2013.

With the strong gap up and crossing over to the new ML, there is a high probability that FB             will remain in this Upper Band with ML as upsloping strong support pushing prices towards the new U-MLH as target profit.

Only time will tell so let's see how the story unfolds....
Nice work... very interesting analysis.
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In short,term I see more likely with a double-dip downward to about 20, and then set off to the upside.
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Consolidation before another move higher- this is going to exceed the previous pivot of 45- a gut feeling
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