Facebook bubble is ready to deflate
Hysterics with Facebook shares was supposed to end sooner or later. It seems that time comes.
Reversal wedge is clearly seen on the weekly chart. Trading volumes defiantly slumped. Oscillators show inevitable divergence. But the strongest bearish engulfing is seen on the top of the wedge.
Break of the pattern at 73 opens the way to the base of the wedge at 56. Should the trend continue, the next target may be 52 and the next – 44.
And Zuckerberg even doesn’t know.
Reversal wedge is clearly seen on the weekly chart. Trading volumes defiantly slumped. Oscillators show inevitable divergence. But the strongest bearish engulfing is seen on the top of the wedge.
Break of the pattern at 73 opens the way to the base of the wedge at 56. Should the trend continue, the next target may be 52 and the next – 44.
And Zuckerberg even doesn’t know.
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