Facebook has a unique sell entry pattern holding since April 2019. As seen on the chart, there is a +1 year trend-line of Higher Highs. Every time FB touches this line, it pulls back to the 1D MA200. Out of the previous 3 occasions, 2 times the 1D MA200 held while 1 time (COVID) it broke. At the moment FB is rising following Friday's strong selling but until it makes contact with the 1D MA200, we are not convinced that it is a buy again. We are selling on every rise and will book profit on the 1D MA200.
See how we used this pattern last time in January to great advantage:
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