Gap fill, what's next?

Updated

FB filled the gap and now there is going to be a break either up or down. FB is bearish, after it initially filled the gap momentum has slowed, even as the price tried to go up midday.

Break: $334
Price Target: $328
Price Target: $326

Break: $336
Price Target: $343
Price Target: $351

Note

Price Targets have been met and FB looks to keep falling. After filling the gap FB started to form a double top. November 10th fell and found support at the 200 EMA, but momentum still looks bearish. FB created a small dollar gap on the current down trend; there may be an attempt to go back and fill it, or the price will find support at either the red uptrend line or the beige solid line and come back to fill that small gap.

If the price falls to either of those levels it would create a double bottom. The indicators are quite laggy on this downtrend which would lead to believe that it will create a divergence.

If FB finds support on the beige support line by Friday, I will be holding calls over the weekend.

Note

FB is also in a squeeze. Major selling over the next couple of days means a rally over the weekend

Note

Daily Chart still shows bearish momentum but smaller timeframes show potential up day November 12th.

There is a build up of bullish momentum on the hour charts that could be a potential bull trap. The price might go up to fill the small gap and have major selling over the weekend.

The Minute charts shows a potential double bottom that could form.

FB is filled with double tops and bottoms; every now and then it does something totally weird. Likely investors looking to buy the stock up going into the weekend hoping people will ride the bullish wave and then then dump them over the weekend. A nine dollar moveNovember 12th will not stop bearish momentum.

christianmartin4746

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