FB - Set to Roll Over

FB has surged 230% since mid-2013, but it looks like buyers are now losing their appetite. Long-term TL broken in mid-January, and rejected on the back test earlier this week. Trend is supported by a long-term RSI divergence, which has consolidated in a wedge and is now breaking to the downside. As illustrated, rally since Apr '14 has also occurred on low volume. I drew this chart a month ago and it has played out very closely with my forecast - so I'm sticking by it. Took this trade earlier on 1.23.15, entry at $77.27 - first target is $72.5.

1.29.15 - 1:11am EST