Medium term
Trade view /
19 July 2016 at 13:10 GMT
Director / PIA-First Limited
United Kingdom
Instrument:
FB:xnas
Price target:
Market price:
Background
Our
original trade idea remains in place, as prices continue to move higher towards horizontal resistance, and this looks likely to arrive a little earlier than we had expected.
Our main target remains $135.00, which is the 161.8% Fibonacci extension target ($72.00-$110.65 move).
We would also look to add to longs on a break of $121.00, and can trail this with a stop below $110.65Facebook on track to the upside
Source: Saxo Bank
— Edited by D. Deacon
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