octradr
Short

FACEBOOK NEARING SUPPORT!

BATS:FB   FACEBOOK INC
173 3 0
What we know...

1. Trading under the 25 day EMA for many days now.

2. Lost all gains made since the last correction of 10/9

3. Short-term resistance line still holding. I would begin opening a short position if it gets close to this line.

4. Support from the hammer is approaching. If it closes below this, add to short position.

5. If it closes above 51 it may get back up to 55 so stop loss at 51.50

HAPPY TRADING!
Hope you protected profits. Once it broke short-term resistance it took off. Now it's at resistance and long positions should tighten stops. 12/17
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Back down to hammer support. May want to start protecting profits. 11/18
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Broke short-term support line. Let's see what this reaction high goes to. 11/14
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