February 13, 2013

FACEBOOK Falling wedge

  • Facebook testing the 38.2% Fib level in daily chart.
  • Daily chart shows a possible Falling wedge pattern.
  • Bulls must take care as price is below 50 Day SMA it could extend the fall on trading below 38.2% Fib level.
  • Falling wedge may work well for bulls if price starts to trade above 50 Day SMA.

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