Two bearish patterns have emerged in FB. The dominant pattern is the huge Diamond Top with a secondary Head and Shoulders pattern. A break of the rising trend line of the diamond top will likely see a test of the H&S neckline at around $178. If this fails to hold, a measured move down to $160 area is in the cards. Risk:reward set up nicely here at 1:2.5 and 1:4.5 respectively.
AlgoTrend Capital LLC