Facebook is printing a bearish engulf month if it closes below 252.65. Given the support 245.19 (1M) holds, the likelihood of retesting 300 double top (1D) remains in hands while the daily is in a neutral zone & Facebook has broken 1D 50-period EMA with a higher low setup. Expecting a retest of 300 with TPs=272-278.
Comment:
FB is touching the monthly support 245.19 and still days to go. FinCEN files and ongoing fear on risen tech increases while the last quarter approaches. Similarly, the oil industry facing more losses and the travel industry as well. Not a good time to stay in the market thus weak hands leave. FB remains a buy the dip.
Comment:
FB recovers marginally and is eyeing to retest 300k power. I keep holding!