Watch closely to breakout levels, this could very well breakdown as we saw a neutral close on friday, positive earnings after a bottom in January, leading to a higher low in FEB, matching up with long term trend line
This is a longer term idea. With the recent plunge becoming a heavy support and production cuts that are possible in near future, I don't see USOIL going much lower than the trading zone I have marked out. If there is a breakthrough, look for a heavy move in that direction.
What I see formation wise is a double bottom that was created on the 29th and the 30th...
FB should fall down to the monthly 200EMA(Redline) and VWAP(yellow line).
I wouldn't be afraid of the retrace after the selloff.
The sentiment is pretty crappy with the Instagram debacle. And many still bearish on FB waiting for the 158 gap down maybe. Considering Instagram is probably Facebooks best tool atm and the founders just left.
Enter around 165 exit around 162.
This won't get bought up much more before correcting I would imagine, leaving a quick short opportunity.
Huge volume sell spike at the end of the day on the 5day
Should fall to the VWAP, yellow line.
Red Horizontal lines are trading channel.
Curved red line is 200ma
Grey line is 9ema