$FB - The thumbs are pointing downward
The FB daily shows a coil around the point of control in the 114s. A break north of the coil on weak volume, paired w/ a flat RSI, and MACD negative divergence indicate a potential reversal back into the coil. If the support in the 113s holds, the coil should then break north again. If it fails, it could result in a possible bow draw reversal of the coil, at which the next level of notable support is A move to that degree could result in a possible draw reversal to the lower support in the mid 109s.
Target area highlighted in yellow, which is also the .5 - .618 fibonacci levels.
Target area highlighted in yellow, which is also the .5 - .618 fibonacci levels.
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