Stock Market Viewpoint

Stock Market Viewpoint
Reading the Tea Leaves...

Monday, December 28, 2015

FB Working a Bull Flag

FB has really only had one channel since shortly after its IPO and has adhered to its boundaries exceptionally well.  

click on image to enlarge

The path from one channel line to the other however, is never anything close to a straight line and sometimes seems downright sloppy and erratic but finally finds the other channel line.  The past couple of months however, FBs trading has changed considerably and it is now building a tight and consistent bull flag (shown with the blue lines in the upper chart).  This action seems to have been orchestrated to quickly put up a clear breakout line in case Wall Street really works the first five days of the new year pump routine.  FB would be ready to hop in and do its part with such a clear breakout line at the ready.

Trade well my friends


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