FB, Completes Ascending-Wedge, Downward Continuations Likely!

Hello,

Welcome to this analysis about FB, we are looking at the 4-hour timeframe perspectives. As I discovered recently the stock has formed an important and decisive formation that gives the indication for a complete bearish reversal with further declines to follow up in the near future. This formation is an ascending-wedge-formation marked in my chart with the black boundaries. Within this formation the stock already completed the wave-count and recently formed the breakout below the lower boundary this completed the ascending-wedge bearishly to the downside and for now, there is the possibility that the stock snaps back to the 45-EMA marked in red to confirm this level as resistance and continue the downward journey. When this additional pullback emerges the stock will move on with the continuation till the targets are reached, in this target zone marked in my chart in blue within the 290 level there is also some good support lying in which the stock has the ability to stabilize and reverse when the sufficient demand show up however it needs to be elevated how the stock approaches this zone, it will be an important and interesting development ahead.

In this manner, thank you for watching my analysis about FB and the main decisive ascending-wedge-formation that recently completed being the origin for upcoming downward continuations, great when you support it with a like and follow or comment, all the best!
"There are many roads to prosperity, but one must be taken."

Information provided is only educational and should not be used to take action in the markets.

Comment:

ANALYSIS UPDATE: FB completed the massive ascending wedge with a huge bearish downward impulse reaching all of the projected bearish target zones.