Facebook – The Art of Chart Reading Online https://artofchartreading.com A complete guide for day traders and swing traders of forex, futures, stock and cryptocurrency markets Wed, 22 May 2024 22:21:17 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.1 https://artofchartreading.com/wp-content/uploads/2018/06/cropped-aocr_background-32x32.jpg Facebook – The Art of Chart Reading Online https://artofchartreading.com 32 32 What We Know About Facebook Before the Drop https://artofchartreading.com/2018/07/28/what-we-know-about-facebook-before-the-drop/ Sat, 28 Jul 2018 14:44:05 +0000 https://artofchartreading.com/?p=121 Continue reading "What We Know About Facebook Before the Drop"

]]> Here is a weekly chart of Facebook. We do know a lot about it before the earning disappointment.

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1. The original channel has been in force for years (red lines)

2. Yellow zone marks the channel breakout

3. Orange line is the 100% expansion

4. Magenta line is the 200% expansion and the usual end of a run on first touch

5. Real support back down at the pale green zone

What’s the use of knowing the potential?

To name a few, protect your profit if you were long the stock, anticipation of Nasdaq 100 would have serious resistance to go much higher and, as a minimum, not to chase the stock of Facebook over the past month or two for long term holding.

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