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FB Inverse H&S

102
Looking at Facebook's daily chart you'll notice another head and shoulders (H&S) pattern forming. Maybe this is too early and we haven't really formed the second shoulder, especially with it being closer to overbought. I believe there will be a push through resistance or another test at support to form a better shoulder. With rejection right at the neckline, this could see another catastrophic pullback/overreaction from the market.
Trendcost
trendcost.com
Chart PatternsfacebookFBInverse Head and ShouldersTrend Analysis

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Chart PatternsfacebookFBInverse Head and ShouldersTrend Analysis
Trendcost
trendcost.com

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.