February 28, 2015

Facebook Bearish Engulfing and Target levels

  • Facebook weekly chart shows weakness near range top
  • Daily candle shows a Bearish engulfing pattern. It is not a complete engulfing. Real body of the previous day's candle is engulfed which is enough to be considered as an engulfing pattern. This is significant because of the weakness near Weekly range top.
  • To confirm bearishness though price has to close below 78 levels. Its a sell only below 78 for a possible visit to the Range Bottom near 73 levels.

No comments:

Post a Comment