May 6, 2013

FACEBOOK Dark Cloud cover pattern

  • Facebook falling after a dark cloud cover pattern in daily chart. Today's candle closing at the lows will add strength for the pattern.
  • 4 Hour chart shows price testing the breakout area. Price falling below this line will extend the fall towards 50 Day SMA shown in the last chart.
  • Correction limited to 50 Day SMA may resume the up move.

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