FB gaining momentum

FB closed nearly +4% today, but it's the last hour that is telling. For those of you using 3C, this is a pretty good example.

 On this hourly chart, note the close in FB today as it approaches the breakout zone to move the stock in to Stage 2 mark up. A few weeks ago who would have thought we'd be long FB?

 This is a 1 min chart of the last hour, this has a distinct short covering look as volume rises and there are no pullbacks, this is the snow-ball effect and the reason we see so many head fake moves before a reversal as it creates this effect.

 FB is a good lesson in why the long term charts are important, this shows the extent of institutional activity as all the accumulation from the shorter charts accrues on the longer charts. This is also a great example of a divergence that jumps off the chart, these are the high probability trades.

 Note the pullback and quick accumulation today just before the move.

The Trend Channel which had an initial stop below $26 is now at $27.50, note how it has narrowed to reflect FB's recent trade, this also means it will be locking in gains faster.