I like what I am seeing out of Facebook (FB) in recent days, but for now it is a bit overextended after running from the $25’s all the way up to the high $27’s without a break. There is overhead resistance weighing down on it right now as well, and what I want from FB is to see the price push through resistance and then consolidate some before making its next move higher. Also, there is a solid double bottom in place, that shows some accumulation in place that could serve as a catalyst once price gets above $28.
Here’s the Facebook (FB) trade setup.
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