FB disconnected from its recent 20-day MODE at the 60 level. In the current consolidation from late March through into early May, the lowest high on the day was $58, so we need to see the high of the day tomorrow below this $58 level and then we could see this downtrend accelerate.
Note the previous rally from November into the high in March. Note that the shares consolidated in a similar 17-day mode and it topped out at the same projection based on both measurements of price and on the projection of time. It later made another push to a new high, but since then it has been broken. FB is still eerily mimicking the 1987 stock market price pattern, which would imply it would fall 20%-30% from current levels in less than a month.
Tim 4:31PM EST, Thursday, May 8, 2014