FB: Could this be the bottom? Let's see.
Hello traders and investors! Let’s see how FB is doing today!
First, we see that FB is clearly in a bear trend. There’s nothing that could help FB now, unless we see a clear bullish reaction. As someone who is out of FB, I’m more tempted to buy than to sell, as the risk/reward ratio favors the bulls.
If we fill the last gap, it’ll confirm an Exhaustion Gap, and what’s more, the $ 323.18 is an interesting support, and a good place for a reaction, as we can see on the daily chart:
There’s a good chance that this could be an Exhaustion Bar, a large bar that appears after a bearish leg, hitting a previous support level, with good volume. Along with the possible Exhaustion Gap in the 1h chart, we can assume that any confirmation of a reversal down here would be an incredible sign to buy.
However, we always must wait for confirmation, ok. If I were shorting FB since the $ 385, I would probably book profits now.
If you liked this analysis, remember to follow me to keep in touch with my daily updates.
Have a good week!
First, we see that FB is clearly in a bear trend. There’s nothing that could help FB now, unless we see a clear bullish reaction. As someone who is out of FB, I’m more tempted to buy than to sell, as the risk/reward ratio favors the bulls.
If we fill the last gap, it’ll confirm an Exhaustion Gap, and what’s more, the $ 323.18 is an interesting support, and a good place for a reaction, as we can see on the daily chart:
There’s a good chance that this could be an Exhaustion Bar, a large bar that appears after a bearish leg, hitting a previous support level, with good volume. Along with the possible Exhaustion Gap in the 1h chart, we can assume that any confirmation of a reversal down here would be an incredible sign to buy.
However, we always must wait for confirmation, ok. If I were shorting FB since the $ 385, I would probably book profits now.
If you liked this analysis, remember to follow me to keep in touch with my daily updates.
Have a good week!
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