The interesting part is that NASDAQ:FB is matched with the exact bottom of the downtrend (that is based on B C D ) and the exact top part of the downtrend (that is based on A B D ) indicating that this is a strong resistance and support for NASDAQ:FB . Basically what I think is that NASDAQ:FB should break this inner downtrend soon and it should get to around 155$ before breaking it, the new uptrend might reach around 180$ in a month or two from the breaking point (if there wouldn't be any big scandals or bad news of course) but there is also a slight chance that the downtrend will continue from 155$, but at this point NASDAQ:FB will be a great value investing opportunity so u should keep it either way. Finally, to put a proper end to my first idea I will give you guys a bit of insight into my coming actions. currently, I do not own any NASDAQ:FB stocks but there is a good chance I will in a couple of weeks, I intend to watch the stock chart daily and wait for any sign or for the stock to get to our 155$ price mark.
BTW - You see the small, blue downtrend? well, this is the false sign protection, every price change that doesn't break this trend might be a false sign so stay alert for changes.
Thank you for reading my first idea and if you have some questions or suggestions let me know.
Buy point - 153-157
Sell point - 180-200 or u can go for a long.
Loss break point - 135-140 even though I might buy some more stock at this price.
even though there is a chance we will not get it. Second, we can still enter at market price because the target is 180-200 so we can still get good profit although it is a bit risky because there is a slight chance for FB to get into a short downtrend. To sum it up, the option that we take depends on our trade length. For a long holding of 1-2 months, we can choose the first option even though the second is still viable.
For a long holding of 6 months and more, we should take the second option.