March 26, 2015

Facebook bearish price action

  • Price action in weekly chart so far is not encouraging for facebook bulls. Bulls have two more days to correct it. If week closes back into the range then bigger alls are possible.
  • Daily candle has engulfed last 3 bullish days. But more weakness needed to confirm the strength of the engulfing pattern. Bears need a close below 82 for bigger falls to follow.
  • 15 Minutes chart shows price below the cloud. If it continues to stay there a trending more looks possible.

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