My analysis of Facebook

Below is the daily chart of FB and it seems to be consolidating since 26 May within the range of $244.76 and $224.20 as per the Fibonacci retracement. A consolidation might be a sign of uptrend considering at the moment there's some distribution of funds from tech to other sectors.

It's worthwhile to take note
- for the moment that the entry for FB might be good between $218 and $224 which there is a gap fill.
- it is now trending below 50MA and will need to see how it closes this week.


*I do not own any FB shares currently.

Key point to note: It is not about how the stock prices open but more importantly how it closes for the day and week.