I am not sure about this.
I very much appreciate the geometric patterns but in this case it looks to me to much indifferent. We just formed new highs above the -how it seemed- resistance(better visible in the daily chart). And your MACDs show renwed buying pressure as well. I better watch out for a clearer picture.
climbing_stars
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That's what makes a market is buyers and sellers. We might get a few ticks up. But I am extremely confident in this name going lower. Especially on a weak tape. Buying breakouts works if the market keeps making new highs. But we just recently finished monthly bearish patterns on all indexes. So my belief is we head lower. I wouldn't be chasing up here. But thanks for your opinion and good luck to you.
motleifaul
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A good comment. I won't buy Facebook at moment as well. I have to much respect for the geometry. My doubts are only just prevailing. That's why I wait.
So thanks for the idea. Perhaps we will meet again here.
I very much appreciate the geometric patterns but in this case it looks to me to much indifferent. We just formed new highs above the -how it seemed- resistance(better visible in the daily chart). And your MACDs show renwed buying pressure as well. I better watch out for a clearer picture.