FB Megaphone?
FB is setting up for a potential megaphone here. The bigger battleground is the green trendline that has acted as support/resistance virtually since FB IPO'd. Closed above it on Friday, which is a bullish sign. Any sort of breakdown below it will be a shorting opportunity to the bottom side of the megaphone, with support zones marked on the way down.
If FB can manage to hold the green trendline I'd expect it to just blast straight through the upper side of that mega phone, considering the significance of the trend.
The SPY is sitting where it is for a reason.....GOOGL...FB...MSFT....are all set up in a position to where they could blast higher in what would result in that January 2018 like euphoric wave higher in the markets, all in the meantime , they could very well fail the breakout and drag this market into a bulls biggest nightmare.
Will try to check back in on these posts a few times over the next couple days. I think we'll have a determined direction by weeks end. Just bear in mind, if this is an impulsive move high that is about to occur in the market, it's not going to end in two days....don't let FOMO make decisions for you.
***Not Recommendations, Always do your own analysis!***
If FB can manage to hold the green trendline I'd expect it to just blast straight through the upper side of that mega phone, considering the significance of the trend.
The SPY is sitting where it is for a reason.....GOOGL...FB...MSFT....are all set up in a position to where they could blast higher in what would result in that January 2018 like euphoric wave higher in the markets, all in the meantime , they could very well fail the breakout and drag this market into a bulls biggest nightmare.
Will try to check back in on these posts a few times over the next couple days. I think we'll have a determined direction by weeks end. Just bear in mind, if this is an impulsive move high that is about to occur in the market, it's not going to end in two days....don't let FOMO make decisions for you.
***Not Recommendations, Always do your own analysis!***
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