After creating a double top today I have a short term bearish view on $FB.
MACD on the hourly is starting to turn bearish and we may see a downward cross by the end of the week. We are also in a sharp rising wedge right now so a breakout to the downside of that wedge could result in some bleeding for the stock.
Lastly, the market is ON FIRE right now and I expect things to cool off a little bit before this internet giant reports next Tuesday. Plan on closing position before the report
POS: Long NOV $77.50C
MACD on the hourly is starting to turn bearish and we may see a downward cross by the end of the week. We are also in a sharp rising wedge right now so a breakout to the downside of that wedge could result in some bleeding for the stock.
Lastly, the market is ON FIRE right now and I expect things to cool off a little bit before this internet giant reports next Tuesday. Plan on closing position before the report
POS: Long NOV $77.50C