timwest
Short

Facebook FB DAILY TIME AT MODE ANALYSIS TELLS US TO ...

NASDAQ:FB   FACEBOOK INC
549 3 7
Sell short with a target of 49.6 - 47.9 in the next 18 days. Stop loss: 3 average true ranges (suggest 11-day ATR) from entry. Risk threshold 1% of portfolio.

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.

Cheers.

Tim 4:31PM EST, Thursday, May 8, 2014
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timwest PRO
2 years ago
snapshot

A couple of added enhancements - a label for the top of the rally in the 1st quarter and other small fixes.
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Voyager
2 years ago
And an almost completed H&S! Neckline @ 53. Lets say, cut Facebook in half. This overvalued social media crap!
look @ Twitter ;-) But serious, al the big players are almost rolling over. I expect a heavy sell off coming weeks.
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Looks like a cup and handle pattern with handle from $54-54 to $62-64. I am looking to short close to resistance of that range and on break down of handle for a projection move to $40
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