Facebook was one of few stocks that outperformed market after its release. On day it gapped up huge and closed above an important technical level $108. Then we saw two days of nice follow through and on third day it formed nice top and tail candle with high at $117.59. Usually, such candles are good sign of slowing down and leads to some kind of pullback or consolidation or maybe even reversal, like in case of Facebook .
Trade and Risk-management
Now, it pulled back a bit from low at $96.82 constructing a nice pattern. Break and close below $100.24 will trigger entry short with stop above $105.11 and targets at $94, then my long-term target is $86.
Overall market is still and could help to drive this stock lower.
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