2use

FB finishing head and shoulders to go lower

NASDAQ:FB   FACEBOOK INC
197 2 0
Seems that facebook             may be edging lower on several reasons
1) Geo-political - overpriced stocks get pummeled on concerns
2) This lead to break the pattern of new highs
3) A second shoulder has been broken and room opened for the bears

Reached the support level (previous resistance), and next support levels are close. Edging back up today with the markets means that the stocks is highly sensitive to the markets reaction to geo-political instability, and may change accordingly

Related Ideas

2use
2 years ago
Idea confirmed. Next support at 54 - covering the previous gap. May go lower if the general market sentiment is bearish as it is a high flying overpriced iconic stock.
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2use 2use
2 years ago
Gap partially covered
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