novvoll12

FB $95.14 - neutral- Consolidates under the record high

NASDAQ:FB   FACEBOOK INC
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FB             reached the 99.24 record high (July 21, 2015) before consolidating. While 91.19 (August 12, 2015 range low, near 38.2% of the 76.79/99.24 rise ) holds, scope remains for a rebound to test 99.24. Clearance above there would accelerate the broad uptrend toward the new targets at 102.03 and then 106.85 (as shown on the weekly chart). However, a break below the 91.19 area would prolong the consolidation and open the 89.40/86.07 support zone (June 25/March 24, 2015 highs, near 50% of the 76.79/99.24 rise).
Outlook:
Short term: neutral
Long term: bullish
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