Elliott Wave View: Rally in Facebook is Corrective

Short term Elliott Wave View on Facebook ( FB ) shows the decline to August 6, 2019 low (176.29) ended wave ((W)). The rally from here took the form of a corrective structure.

Up from 176.29, wave (W) ended at 190.98 with the internal subdivision as a zigzag . Wave A of (W) ended at 186.30, wave B of (W) ended at 181.22, and wave C of (W) ended at 190.98. The stock then ended wave (X) pullback at 177.39 with the internal subdivision as an expanded Flat.
Wave A of (X) ended at 185.11, wave B of (X) ended at 191.38, and wave C of (X) ended at 177.39.

Wave (Y) rally is in progress. Up from 177.39, wave W ended at 187.50 and wave X of (Y) ended at 182.39. Near term, while above 177.39, expect Facebook to resume higher in wave C of (Y). Potential target to the upside is 192.71 – 195.15 area, which is the 100% extension from August 6 low. From this area, the stock should then resume lower or at least pullback in 3 waves.
14 days free trial --> https://elliottwave-forecast.com/amember/go.php?r=7975&i=l3 and get Accurate & timely Elliott Wave Forecasts of 78 instruments. Webinars, Chat Room, Stocks/Forex/Indices Signals & more.
Still Long? XD
@WaveAzzReaderz, Hello, no FB took the invalidation level of177.39 so this is got invalidated.
Great Elliott Waves buddy.
Very nice!
Do think there is any correlation with TWTR stock?
+2 Reply
Great Job
+1 Reply
@bradytrader68, Thank you
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing TradingView Coins My Support Tickets Get Help Ideas Published Followers Following Private Messages Chat Sign Out