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Saturday, 28 July 2018

Facebook (NASDAQ: FB): 28 July 2018, Saturday, 4.59pm Singapore Time

Facebook (NASDAQ: FB):
28 July 2018, Saturday, 4.59pm Singapore Time
(Click on Technical Chart above to Expand)

Attached is the Technicals for Facebook Inc (NASDAQ: FB). My previous analysis on Facebook Inc was a Buy-Analysis on Facebook at $23.561 on 19 November 2012 (refer to past verifiable track records). In 1H-2018, I kept raising the alert flag that the management of Facebook were relentlessly selling the company stocks and called for Facebook to go into sharp downtrend soon. With +742% in returns now, I judge Facebook a strong sell now: take profits of everything at +742% returns. After a decently large Bearish Wedge of Distribution, with the base of the wedge at $150.00 zone, Facebook will now target to break down the start of the distribution at $150.00. The distribution has ended and is progressing to the mark-down phase. If FB dead-cat bounces into the Red Zone within 3 weeks, it means the black hole wants to suck in more fools' monies and the market is more merciless than it is merciful.

The Donovan Norfolk Technical Rating: 
(and do not be buying even if it dead cat bounces into the RED ZONE to suck in fools' monies)

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