The share price of Facebook has just completed a sizable correction, which now appears over. The dropdown rebounded from the 200-day MA (in orange). Given the better than expected earnings data for Q3 (which was posted yesterday), the uptrend would now likely be resumed.
A breakout above the upper limit of the Descending Wedge pattern would signal the beginning of the new uptrend.
The first potential barrier can be found at the 350.00 resistance. The latter is underpinned by the 100-day MA (in blue). The previous swing peak at 380.00 represents the secondary target.
A breakout above the upper limit of the Descending Wedge pattern would signal the beginning of the new uptrend.
The first potential barrier can be found at the 350.00 resistance. The latter is underpinned by the 100-day MA (in blue). The previous swing peak at 380.00 represents the secondary target.
