FB – Facebook

Facebook formed a Bearish Engulfing Candlestick Pattern last week. Its selling volume was higher than the previous week’s volume. I would anticipate some weakness with FB leading up to its earnings report based on this candlestick. It has also found resistance at the 100% Target Line from the Fibonacci Extension Tool. A break above and FB is going to the $150 area. But that break above may involve a pullback first.

IF FB disappoints for the first time in a while on their earnings report, which I do not anticipate, its share price would most likely find support around the $110 area, or the next supporting trendline below on the chart…