AlexandreNygal

FB : Better to wait a pullback at 122.50$ to buy

NASDAQ:FB   FACEBOOK INC
Facebook             ( NASDAQ:FB             ) is evoluting in a long term bullish trend , but currently it is consolidating between 126.70 and 131$.
On that situation, a short position is definitely to ban.

But is today the right moment to initiate a long position ?
The support à 126.70$ corresponds to 0.5 retracement of the last upper move (end Aug - beg Sept), it is not enough. It could quite probably be broken in the few next days, as the RSI is currently breaking its neutrality zone.

If you wait for a breakdown of the 126.70$ support, you could benefit from the 122.50$ big support to take long position :
- previous support during august
- 38.2% retracement of the last upper wave which started from the Major support.
- Reinforced by the ascending trendline support

So you should probably wait for 124$ (before or after a bounce at the 122.50 support) to enter bull on NASDAQ:FB             .
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out