7pasos
Long

Multiple 76.4% fibo relations in Facebook

BATS:FB   FACEBOOK, INC
246 0 0
When you count a new stock is more risky because the lack of context, here I can find some patterns, some what clear, but what catched my attention is the preference for the 74.6% fibo level.
This could be a common level in deep pullbacks like in wave 2 but here appear in multiple situations:
Wave c) of the first downside movement extend 76.4 of wave a)
The movement to the upside afther that retraced 76.4 the first whole decline
After that upside movement, the part of what i considere here the wave i of a potential wave iii             ) extending retraced 76.4%, again!.
Time will tell if this have been all the retrace for that wave i, but given the tendency to show 74.6% fibo relations I think this have a very good chance by pattern but also by fibo relationship, to start a new upside pattern.
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