Although right on uptrend line support, I have enough confidence to add FB (Facebook Inc) as an Active Short Trade here following today’s gap down below the Island Cluster Top reversal pattern. More conservative/conventional traders might opt to wait for a breakdown below this large rising wedge pattern before taking a full position. Suggested stop above 121.25 if targeting T2 (current final target) or above 117 if only targeting T1. T2 (99.46) is the current final target although I may add one additional target around the 90.75-92.40 support zone, depending on how FB & the broad markets trading in the coming days & weeks.
FB daily June 13th