XABDC Fibonacci Projection - FB Long and reverse at $72.05

A projection for FB movement during July 2014. Strong expectations for Q2 Earnings are likely to catalyst a positive movement that would push FB to $72.50 . So far the recovery of FB has been smoothly following Fib Retracement with clear support and resist levels.

Extremely low VIX levels and record high Index levels make the markets really vulnerable to any weak economic or negative geo-political data. Any of those might trigger a reverse movement that would return FB to $65.29 levels before any further positive movement. I'd say go LONG and reverse position at $72.50


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