FB - Are we seeing a double top?
Hello Everyone!.
NDX first close above 10000 points, Facebook is now at its high, but...what do we see looking at the chart? Is this a double top?
High of the day at 241.20, previous high at 240.90, the question coming up to my mind is it might be an area where the price has been already rejected two times and might retrace towards 20 sma to breath in before another attempt to this area.
Aldough price action is extreamely bullish (higher highs and higher lows plus 20 sma and 50 sma sloping up), meantime RSI is signaling a potential bearish divergence.
Let's watch closely the developement, post your comments if you like to do so and...may the market be with us...!
NDX first close above 10000 points, Facebook is now at its high, but...what do we see looking at the chart? Is this a double top?
High of the day at 241.20, previous high at 240.90, the question coming up to my mind is it might be an area where the price has been already rejected two times and might retrace towards 20 sma to breath in before another attempt to this area.
Aldough price action is extreamely bullish (higher highs and higher lows plus 20 sma and 50 sma sloping up), meantime RSI is signaling a potential bearish divergence.
Let's watch closely the developement, post your comments if you like to do so and...may the market be with us...!
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