nmike

FB update

Short
BATS:META   Meta Platforms, Inc
Currently FB is bearish , below 10 & 50MA and TRIX below mid-point.There was plenty warning of a top when FB had a double breakout failure and negative divergence near clone resistance.I consider DIVERGENCES early warning signs of tops & bottoms especially on monthly charts.With FB we also had a DOUBLE negative divergence, extra warning of a top.
IF trend continues the next 2 near term targets are about $25.5 and $24.5. If things quickly turn and FB breaks minor resistance look for near term target near top of CLONE.

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