Head and Shoulders
pattern for Facebook
clearly visible on Monthly and weekly chart. Also notice that Chaikin Money flow
on a monthly chart has dropped significantly since January 2015, it is now equal with April 2014 when FB
was at $72. Also note that Fb
has not had two consecutive lower monthly highs since May of 2013. This month will be the first since then. Last quarter Fb
reported sequentially lower revenue and in the January conference call stated that revenue will decline 5% this year due to FX and higher expenses. Momentum is down for Fb
. GAAP earning declined sequentially for two months and year over year last quarter.