themarketzone
Short

Earnings sent FB to test trading channel's resistance zone

NASDAQ:FB   FACEBOOK INC
Last week's Facebook's earnings results sent the price up to test the top of a trading channel near 130$
This earnings setup that Elite Zone members already gained from can signal perhaps the end of the current rally. The resistance found near 128-130$ and the bearish reaction following good earnings report may be a sign that $FB can no longer surprise Investors with better news... therefore there's a room for disappointment = potential reversal zone.
130$ was marked as the current top.

120$ is first target zone. Next levels are marked as structure support zones at the chart

This trading scenario is part of this week's FREE newsletters - The Weekly Markets Analysis - http://goo.gl/NOAw5M
Read more and see what other trading scenarios I'm watching towards the coming trading week

Tomer, The MarketZone
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