October 28, 2015

Facebook resistance line and trend update

  • Facebook is approaching a possible resistance line in weekly time frame. But bad news for bears is that price is staying above crucial resistance area around 100 levels. Any weakness only if price falls back below 98 - 100 levels.
  • Weekly trend remains up as shown in last chart. Price continues to remain above the cloud. Any weakness near the weekly resistance line may only result in small corrections. 

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