TradingView
themarketzone
Nov 11, 2014 2:03 PM

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

Meta Platforms, Inc.NASDAQ

Description

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.
More