Trade Idea for FACEBOOK Inc. (NASDAQ)

FACEBOOK Inc. (NASDAQ)

#FB

    The trend is bullish. The stock is trading within the range of the 365 and 135 EMAs. A truncated bearish wave structure has formed. The Awesome Oscillator shows bullish divergence, while the Stochastic Oscillator signals oversold conditions.

Trading idea:

Buy on the formation of a bullish wave structure, where wave (A) breaks above the descending channel of the truncated bearish structure.

Stop Loss – 628.40.

Target levels – 683.30; 715.50.