Facebook could be at a great time to buy. As we can see if we draw a long term Fibonacci the price bounces perfectly recognizing the 0.618 of Fibo, and if we do a shorter term Fibonacci we can see how the price does the same in the 0.786 of Fibo.
The big green candle after that bounce would confirm the theory that it recognized support and the action could jump out to find some of the first Fibonacci targets. If we see these objectives of the 2 we can see that the extensions coincide in 2 points marked by the two green lines that I place on the chart, these being the 2 possible places to place our take-profit. These would be the 0.382 of the long fibo that coincide with the 0.5 of the short fibo and on the other hand the 0.5 of the long fibo that coincide with the 0.618 of the short fibo.
The move that we could make knowing this is to buy at this price by placing a stop-loss in one of the 2 supports where the price had had several touches (marked with the orange line)
The fundamentals of this company are excellent and I consider it a good company to have for the very long term. But for the short term, an entry with risk 1, profit 3 (putting the stop loss of 4.5% and a take profit of 11 or 16% could be a great entry for this moment)
