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FB Has the Right Look for the Emergence of a New Upleg...


Wednesday June 10th, 2015
FB Has the Right Look for the Emergence of a New Upleg...
by Mike Paulenoff www.MPTrader.com

Facebook, Inc. (FB) looks like it ended a significant correction from its March 24 high at 86.24 to its May 12 low at 76.79, and has since carved out the requisite stair-step up-moves to position the stock for upside acceleration that should hurdle key resistance between 82.95 and 84.75 in route to a new all-time high above 86.24 (which projects to 89.00-90.00)

Only a break below 79.32 will compromise the currently-bullish technical set-up.

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