This last week, FB tried yet another unsuccessful attempt to breach it’s high. I had mentioned in last week’s post, that FB will try and get close to it’s high and look at closing above it. Clearly some selling pressure is seen at that level.
The Weekly charts does not really show any reversal pattern developing. It looks like a continuation of the existing uptrend. On the downside FB can touch it’s 20 DMA around $68 where buying is expected to kick in.
As usual, the market will decide it’s course of action. All we need to do is follow what it does.
Following are the Trading levels for WS 10th March
Buy above 69.40 Tgt 1 – 72.35, Tgt 2 – 75, Tgt 3 – 77.80
Sell below 69.40 Tgt 1 – 66.90, Tgt 2 – 64, Tgt 3 – 61.40
Very Important – DO NOT TRADE WITHOUT STOP LOSS. Use sound Money Management with your Trading Plan and do not over leverage vis-a-vis your trading equity.
Have a Profitable Trading week ahead!
To your Boring Success!!!
