Facebook Stocks Showing Good Weakness On The Charts This Week
InTheMoneyStocks.com | Sep 16, 2014 12:55AM ET
Facebook Inc. (NASDAQ:FB) has had a solid run over the past year as one of the Nasdaq market leaders. However, today FB is showing good weakness on the charts as traders appear to be taking profits ahead of an expected volatile week in the markets. Facebook Inc. (NASDAQ:FB) had a nice intraday bounce off the trend line you see below. Now, if this line breaks on an hourly chart, the stock could have a nice sell off into the $71.50 level. Take note of the chart, get ready for the trade...
UPDATE: as of this time, the trend line on FB as indicated in the chart below has been breached and we will now look for a move down to the $71.50 level.
by Evan Poechman
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