Here is a count for FB starting at IPO. I've thrown in an andrews pitchfork to determine confluence as well as fib time analysis to see what shows up. Some interesting results for sure.
Basically im expecting FB to climb to 350ish by EoY for the B leg of w4. It should then spend the next few months heading down to 260 for its w4 target. This level shows a lot of confluence, with the pitchfork 1 Std deviation (which has acted as support in the past during 2018 and 2020 corrections) coinciding with the 38.2% fib for W4, as well as the 13 Fib time level all meeting up to support price....and from the looks of it, 200 weekly MA should be joining them for the support party.
I would want to play $300 puts at $350 and $300 calls at $265.
Basically im expecting FB to climb to 350ish by EoY for the B leg of w4. It should then spend the next few months heading down to 260 for its w4 target. This level shows a lot of confluence, with the pitchfork 1 Std deviation (which has acted as support in the past during 2018 and 2020 corrections) coinciding with the 38.2% fib for W4, as well as the 13 Fib time level all meeting up to support price....and from the looks of it, 200 weekly MA should be joining them for the support party.
I would want to play $300 puts at $350 and $300 calls at $265.