Facebook looks poised to break out from a 7 months base. The stock has been outperforming the SP500, volume has been increasing in up days and decreasing in down days.
Om March 17 FB broke a downtrend line that had been tested 3 prior times. On March 25 the downtrend line was retested and held.
Started position opened on Friday at $299.55 with stop at $283.78. I will be watching $302.40 (Friday’s high) and $304.67 (base high) for adding to the position.
Om March 17 FB broke a downtrend line that had been tested 3 prior times. On March 25 the downtrend line was retested and held.
Started position opened on Friday at $299.55 with stop at $283.78. I will be watching $302.40 (Friday’s high) and $304.67 (base high) for adding to the position.
Keep it simple: price action and volume
