FB update 11/14

FB: we’ve re-assessed FB’s charts -weekly candlestick shown- and come to some different conclusions than before. Although we originally had either Primary I or intermediate i at the recent ATH, we now believe that was only intermediate iii of major 3. Thus there’s more upside in store, in line with the earlier intermediate i count. The black dotted trend lines show the uptrend channel price has been in.  We now expect FB to either bottom around $110 (good support) or after a b-wave bounce drop to the lower black trendline at around $105, which is also very good support. Price is getting extremely oversold, both on the MACD and RSI5, hence the rebound will be strong.

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