Facebook: FB This was meant for yesterday but some glitch stopped it from uploading...
Bit late now, apologies.
For what it's worth at this point, a couple of observations:
That's quite a large pin bar forming meaning that institutions are indeed
unloading, (see below) looking to buy back 5 or 10% cheaper if they can.
FB should come back to 175.60 at least and more likely to 172.93 (once
175.60 gives way). It should try to build a base here, off the old highs if
the near term uptrend is to remain sound.
So any failure during next week to hold up here will trigger a 3% short
for about 6 points back to the next support across the 169-168 range.
This range isn't particularly strong support, though will still close out
there if struck and only look to short again if 168.5 gives way for further
(roughly) 3 point fall to 165.6.
Bit late now, apologies.
For what it's worth at this point, a couple of observations:
That's quite a large pin bar forming meaning that institutions are indeed
unloading, (see below) looking to buy back 5 or 10% cheaper if they can.
FB should come back to 175.60 at least and more likely to 172.93 (once
175.60 gives way). It should try to build a base here, off the old highs if
the near term uptrend is to remain sound.
So any failure during next week to hold up here will trigger a 3% short
for about 6 points back to the next support across the 169-168 range.
This range isn't particularly strong support, though will still close out
there if struck and only look to short again if 168.5 gives way for further
(roughly) 3 point fall to 165.6.