TradeMultiMarkets
Long

$FB Strength Opens Door for Swing Trade Long Setup

BATS:FB   FACEBOOK, INC
279 0 0
The break of the weekly high is a sign of technical strength. This opens the door for a buying opportunity if price can push back into the mid 25's. This process can take a number of weeks. A more conservative buy zone would present itself just below the 24.00 swing low, but buying here requires a great deal of validation. A weekly close below this level will cancel out this bullish idea. If buying in the 25's, stops should be in t he 23.50 area. Size trade in proportion to account. Upside target from the 24. 25.50 buyzone is 28.50 - 30 area.
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