themarketzone

Up or down? Very nice R/R for the downside

NASDAQ:FB   FACEBOOK INC
$FB is trading inside a very tight range, just between support and resistance and just above its daily uptrend line.
$FB didn't join the on going ATH             celebration and we have to wonder whether it means weakness or simply a pause before exploding higher.
We see that the upside potential is about 3-4$ while a cross below the uptrend line could lead to either one of the support zones marked in the chart (the closest is about 4$ below current price level)

If you want to short Facebook             (you can wait for the breakdown before actually taking the trade) you have a 4$ risk and 4$ potential reward for initial target level... 10$ potential profit for extended target level.

If Facebook             breaks and closes below 74$ shorting it is definitely something to consider.
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