$FB - Double bottom + Trendline retest + 2.0 Fib extension
The price action was ugly. Looking like this could be a bottom for a second time.
Here are the reasons:
1. 2.0 Fib extension
2. trendline retest
3. price is at previous bottom. Could be double bottom.
However, could all of this be enough for the price bounce? Not quite. This time, we have ER on 4/27 that could send the stock to $230 or drop it to $133.
This is a case of gamble on ER. How will you play it?
Here are the reasons:
1. 2.0 Fib extension
2. trendline retest
3. price is at previous bottom. Could be double bottom.
However, could all of this be enough for the price bounce? Not quite. This time, we have ER on 4/27 that could send the stock to $230 or drop it to $133.
This is a case of gamble on ER. How will you play it?