CalicoNeko

FB (Daily - 5/19/14) - Symmetrical Triangle, Pos. Diverg. Setup

NASDAQ:FB   FACEBOOK INC
No position; but accumulation on the daily as indicated by the positive divergence of price making lower highs and MACD/RSI making higher lows (and in oversold territory). Could be a bullish setup to watch. However, symmetrical triangle breaking below may indicate a continuation of the short term down trend and possibly forming the right shoulder of a (sloppy) head and shoulders leading to more downside. I am inclined to expect a break to the upside, if confirmed with a break of the first resistance, 61.27, will buy 1/2 position then a break of 63.62, add other 1/2.
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