FB is looking extended going into as opposed to $TWTR which had 5 tight red sessions going into report. But if mkt action is telling for FB like was for TWTR, FB could continue the uptrend to new ATHs as it is currently testing and resting there past 2 sessions.
Custom FIBZ for pullbacks:
based on past 2 week straight move up:
Buy Zones= 50% is74.49 and 61.8% is 73.49,
78.6% is 72.09 would be final buy zone with caution.Stop below as likely to gap down.
Sell Zone= -23.6% is 80.74 and -38.2% is 81.98
** Obviously sell Zones are at more risk of being violated because very close.
***I don't like the gaps on this last run and Open Body Gap theory states all gaps get filled eventually.
http://content.screencast.com/users/MrSoul70/folders/Jing/media/9907ca2c-6add-4edc-b06e-85c5408aeb2a/2014-10-28_0907.png
YTD Levels:
Buy Zones= 50% is 62.42 and 61.8% is 58.08
Sell Zone= -23.6% is 89.48 and -38.2% is 94.84.
** Due to the trend, These levels could be hit.
http://content.screencast.com/users/MrSoul70/folders/Jing/media/a0bfe01d-28d9-4ae4-897b-6aa978346882/2014-10-28_0906.png
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