FB (Facebook Inc) will be added as an Active Short Trade here at the top of this ascending price channel. My current plan is to target at least the mid-point of the channel which comes in around 85.50 (T1 buy-to-cover limit order to be set at 85.57) with a stop set over today’s high. However, I may decide to trail down my stops, targeting the uptrend line & horizontal support level labeled as T2 on this 60-minute chart & quite possibly the bottom of the channel on the daily chart. Whether on not I decide to hold out for those additional targets will depend on how the broad market trades going forward.
FB daily July 14th
FB 60 minute July 14th