4xForecaster

Update - Target Hit ... Expecting Unwinding | #Facebook $NASDAQ

NASDAQ:FB   FACEBOOK INC
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Friends,

Last January 30th, we defined a bullish primary target, TG-1 = 66.54, which just got hit at the close of last week's market. At this point, we are expecting some unwinding, considering the significance of the impulse leg that led to target completion.

A probable target was already defined back on that same date (January 30th, 2014), as TG-Int. = 49.95 - 30 JAN 2014, representing a probable intermediate level of support. Less probable targets remain available down below, based on incomplete proprietary geometric             patterns (Janus Pattern), which we are keeping in sight, but not considering viable at this point, considering the recent strength of the bullish impulse.

A bearish market reversal confirmation would make these bearish targets a topic of discussion, but the technicals are not even there.

OVERALL:
Changing directional bias at this point from Bullish to Neutral, on the back of a significant rallying and target completion, and expectation of a relief unwinding towards a probable 49.95 support vicinity.

Cheers,


David Alcindor | 4xQuad
Predictive Analysis & Forecasting
Denver, Colorado, USA


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PS: Other recent analysis and charting:

SPDR: XLK             , XLF             , XLV:

XLK             - Technology Select Sector/SPDR:
Analysis: A Bruised Bull? | $AAPL $GOOG $MSFT $SPDR $NYSE

Its Top 3 Leaders:
- AAPL: https://www.tradingview.com/e/OqhN6oTc/
- GOOG: https://www.tradingview.com/e/J5A3VRWX/
- MSFT: https://www.tradingview.com/e/SLHE0cgv/
(Source: http://finance.yahoo.com/q/hl?s=XLK+Holdings)


XLF             - Financial Select Sector/SPDR:
https://www.tradingview.com/e/Q1zAcCh2/
Its Top 3 Leaders:
- WFC            
- JPM            
- BRK.B             (Berkshire Hathaway Inc Class B)
(Source: http://finance.yahoo.com/q/hl?s=XLF+Holdings)


XLV             - Health Select Sector/SPDR:
https://www.tradingview.com/e/LHpkuOb8/
Its Top 3 Leader:
- JNJ: https://www.tradingview.com/e/CqsS1tCE/#
- PFE: https://www.tradingview.com/e/TV6ZoLEo/#
- MRK: https://www.tradingview.com/e/SCxm0WmO/#
(Source: http://finance.yahoo.com/q/hl?s=XLV+Holdings)


Also:

SPX             - https://www.tradingview.com/e/GK5wJ5WN/
AAPL             - https://www.tradingview.com/e/OqhN6oTc/
AMD             - https://www.tradingview.com/e/ySdvtzok/
EBAY             - https://www.tradingview.com/e/XWUVhvT0/
FB             - https://www.tradingview.com/e/tfPPZa0e/
GOOG             - https://www.tradingview.com/e/J5A3VRWX/#
MSFT             - https://www.tradingview.com/e/SLHE0cgv/
TWTR             - https://www.tradingview.com/e/Rnr5FZ93/


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Recent forecast hits:

1 - #USDollar: http://on.fb.me/19Pf77y
2 - #AUDUSD: http://on.fb.me/1kDHbdB
3 - #NGAS: http://on.fb.me/1aSMYHV
More archived here: http://bit.ly/16JMnH8

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Disclaimer: All of our analyses are for educational purpose only. The forecasts, analyses and opinions generated herein are not trading recommendations. We trust that you would do your own due diligence first, then seek professional advice from a licensed professional and enter the market at your own perils - David Alcindor - a.k.a.: 4xForecaster | 4xQuad, LLC.
David Alcindor, CMT Affiliate #227974
Alias: 4xForecaster (Twitter, LinkedIn, StockTwits)

Signal Service or Private Course - Contact: admin@KADAInstitute.com
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JRG PRO
2 years ago
What, pray tell, is a JANUS pattern? A vile 2 headed January Roman infidel?
Reply
4xForecaster PRO JRG
2 years ago
Janus was a mythological figure with two faces of the same head. The pattern we use has these features, but not so evident. This is a prop pattern we named for our record, but can't reveal. It aligns with other common harmonic patterns as well - David
Reply
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