FB

Of all the stocks that I look at on a regular basis, I like FB the best right now on the Weekly and Daily charts. My W and D are as GW told us to set them up with only one exception - I added an 8 EMA based on what I read in The Market Maker's Edge. I've only practiced this, but after the W closes above the 8, I look for a buy signal on the D. The W pulled back below the 8, and on Friday closed above it. The indicators look good on the Daily. I would expect it to go to $54 or $55, and based on the time of year, possibly higher.

Am I missing anything? Should I be worried about the 20 on the Daily (it is beginning to curve down). Should I be worried about the 50 and the TBB (which could laminate) on the 233?

OUCH

I'll post a helpful response that I received in a PM:

"Just my take : you are going against your bigger charts (Weekly),. Yes could it go to $54, 55 . but your weekly 8 day is 50.50, Daily 20 at 50, 233 50 and TBB at 50.00. You need to break all of that before it can go to 54 / 55. One question I usually ask my self, "what is the path of least resistance?" Just my thought."

This is just my opinion. If you have read any of my post im sure you are tired of my "I am not licensed and please do not accept this as advice" but I am giving it again here.

FB weekly TBB has expanded significantly. We are in the FWTZ. THe daily has pulled back. Looks fine to me. WOuldnt be surpised if it blew through the $54-$55 mark.


BCT