Earnings are around the corner for $FB (MAY 1st), despite the fact is going to play a dominant role on the stock's performance in the upcoming weeks, there are two major S&R levels worthy of consideration. The pattern has been ultimately contracting much closer, so I think we will see a very neat rally following the earnings. Some technical indicators appear to be bullish with odds in favor for a long position. The stock hit a bottom again at the $25 dollar mark making it the fourth time a major swing consolidates at given level. The 50 & 20 SMA are very close to a crossover; however, in shorter time frames, bullish SMA crossovers have already arose. Conclusively, both RSI and Slow Stochastic indicate a positive divergence, which might be a signal of an upcoming major shift in price.
Alexander Schachter
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