FB's Buyback Effort is Nearing a Test of Significant Resistance

FB-- continues to claw its way higher in the aftermath of last Friday's post-close $9 billion share buyback announcement when the stock was trading around 137.42. Let's notice that as we speak, FB is pushing up towards 144.00, which represents the lower lip of a key resistance zone up to 146.50, which if hurdled and sustained, will trigger bullish breakout signals that point to upside potential to 151-153 and thereafter to the 158-162 target zone. Conversely, inability of FB to take out resistance at 144-146 will label its 4 week pattern EITHER a near term corrective bottom OR a near term bearish digestion period ahead of another downleg that will point to 110-115... Last is 143.60

12 11 FB 915 GIF
12 11 FB 915 GIF

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