Earnings sent FB to test trading channel's resistance zone
Last week's Facebook's earnings results sent the price up to test the top of a trading channel near 130$
This earnings setup that Elite Zone members already gained from can signal perhaps the end of the current rally. The resistance found near 128-130$ and the bearish reaction following good earnings report may be a sign that $FB can no longer surprise Investors with better news... therefore there's a room for disappointment = potential reversal zone.
130$ was marked as the current top.
120$ is first target zone. Next levels are marked as structure support zones at the chart
This trading scenario is part of this week's FREE newsletters - The Weekly Markets Analysis - goo.gl/NOAw5M
Read more and see what other trading scenarios I'm watching towards the coming trading week
Tomer, The MarketZone
www.themarketzone.net/
Follow my blog - marketzone.tumblr.com/
Subscribe to my Youtube channel - www.youtube.com/c/TheMarketZoneNet
This earnings setup that Elite Zone members already gained from can signal perhaps the end of the current rally. The resistance found near 128-130$ and the bearish reaction following good earnings report may be a sign that $FB can no longer surprise Investors with better news... therefore there's a room for disappointment = potential reversal zone.
130$ was marked as the current top.
120$ is first target zone. Next levels are marked as structure support zones at the chart
This trading scenario is part of this week's FREE newsletters - The Weekly Markets Analysis - goo.gl/NOAw5M
Read more and see what other trading scenarios I'm watching towards the coming trading week
Tomer, The MarketZone
www.themarketzone.net/
Follow my blog - marketzone.tumblr.com/
Subscribe to my Youtube channel - www.youtube.com/c/TheMarketZoneNet