Has Facebook found a bottom?
Wave 1 - Jan 2nd, 2020 - $210
Wave 2 - March 12, 2020 - $150
Wave 3 - August 24th, 2020 - $300
Wave 4 - January 14th, 2021 - $250
Formed double bottom with retracement on Sept 15, 2020
Wave 5 Peaked on - August 30th, 2021 - $382
Since the peak:
Wave A has formed at October 25th, 2021 - $315
Wave B December 23rd, 2021 - $345
Wave C - Feb 7, 2022 - $230
After hitting the .50 fib retracement level, FB has found support. As long as this level holds, we should expect to see an upside of 49%.
I expect to see something similar to what happened with Amazon.
RSI is oversold and turning around
Buy in around $237
Place stop under .50 retracement level
Target is at ~ $320
Wave 2 - March 12, 2020 - $150
Wave 3 - August 24th, 2020 - $300
Wave 4 - January 14th, 2021 - $250
Formed double bottom with retracement on Sept 15, 2020
Wave 5 Peaked on - August 30th, 2021 - $382
Since the peak:
Wave A has formed at October 25th, 2021 - $315
Wave B December 23rd, 2021 - $345
Wave C - Feb 7, 2022 - $230
After hitting the .50 fib retracement level, FB has found support. As long as this level holds, we should expect to see an upside of 49%.
I expect to see something similar to what happened with Amazon.
RSI is oversold and turning around
Buy in around $237
Place stop under .50 retracement level
Target is at ~ $320
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