FB has fallen over $50 in the previous month and does not look to make a meaningful reversal soon. FB bounced off its long-term uptrend line, but it met resistance at it short-term downtrend line.
- The four hour time chart shows the stock is $15 under the 200 EMA
+ quiet bearish
- Slow Stochastic is showing a down trend
+ rejection off downtrend that it has been respecting
Fibonacci has marked potential reversal at $313; this support level has about twenty touches in the past. Looking for candle close below $326.
PT1: $320
PT2: $313
** with the potential announcement of tapering October 13 I would not be very bullish at this point
- The four hour time chart shows the stock is $15 under the 200 EMA
+ quiet bearish
- Slow Stochastic is showing a down trend
+ rejection off downtrend that it has been respecting
Fibonacci has marked potential reversal at $313; this support level has about twenty touches in the past. Looking for candle close below $326.
PT1: $320
PT2: $313
** with the potential announcement of tapering October 13 I would not be very bullish at this point
Trade closed: target reached:
PT1: $320 reached
Trade closed: target reached:
Reached temporary PT: $326
Reached temporary PT: $326
Riding FB to resistance level
PT: $326