facebook - META Idea I

12M: Bullish Engulfing
→ Grey zone 453 – 509
→ 537, 553, 465 above , 390 below

3M: Could not break above high of prev. candle. But closes bullish
→ range of last quarter becomes important
→ grey area provides a possible reversal/ continuation zone.
→ Stochastic is turning down

Monthly: closing in bearish territory → bullish
→ could not close above highs
→ stochastic turning up = bullish setup above 509, bearish below

3D: Possible Double Top forming
→ could be an early sign of bears once validated. Bulls should show up soon
→ likelyhood of bullish progression is higher because of stochastic turning up