Hello everyone, as we all know the market action discounts everything :)
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Facebook Stock took a big hit yesterday after the Technical problem that the company had that caused every website that the company owns to go down...
Reading some of our Spectro M and considering some of bad press FB is getting due to shady partnerships with government entities for content censorship and monitoring I'd bet on a bearish short-term call.
The Volume Analyzer, the color under the candles just went red, it's on precision mode so it's pretty fast and reactive.
We just had a Spectro M...
This is a textbook trade using Spectro™ M
The green triangles mean that Spectro's Reversal Confirmation is triggered, so after that we just waited for the next conservative Spectro™ M alert and bough in, still no sell alert but we have the red triangles warning for a big correction or reversal so we just closed this position.
So if you're thinking about...
FB in the near term is technically positive. We recommend an opportunistic buy with an entry below 144.85 with a primary target at 151.53.
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