January 15, 2013

FACEBOOK Bearish Engulfing

  • FACEBOOK Daily chart shows a bearish engulfing pattern. For bears need confirmation with price follow up and volume increase on the downside.
  • Daily chart also shows negative divergence with price and RSI. 
  • For bulls price need to sustain above 50% Fib level as shown in the last chart. Sustaining above 50% Fib level may negate the above bearish View.

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