As Facebook made new highs, I've noticed a bearish Butterfly forming in the daily chart. The setup was sent to the Elite Zone members last week and today, the stock reached the first target zone. Next target levels are 80$ and 78$ but for now, the stock is at support zone - Could rally or create a little pullback from here
If you look at the option action seems $80 will be a battleground, my guess is it will probably swing up & down around $80 for awhile
Rocketman
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I'd wait to see what FB does at 80.80. At 80.30 I would prepare to get long and wait for your signal, then enter. If you trade like me, then this would be a good risk/reward scenario. Target $88.