As is with most stocks right now, FB is returning to the former breakout area from march. The market does this time and time again. This area is called Demand. The first time back to Demand typically results in a nice rocket ride. While the high time frame demand zone is the most ideal place for a long, It is also possible that FB bounces from this area which is the market maker discount zone. If they want a deeper discount they will visit the equal lows indicated by the pivot markers or somewhere nearby in the demand zone before taking off.
Commentaire:
FB Found demand this earnings period. Great long opportunity off the bottom. Watching for confirmation of continuation on the pullback.