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Medium term
Trade view / 19 July 2016 at 13:10 GMT

UPDATE: Facebook remains friendly

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 $110.65

Facebook on track to the upside
fb2
 Source: Saxo Bank

— Edited by D. Deacon

Non-independent investment research disclaimer applies. Read more

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