FB Update

The world's most hated stock that we made good money on LONG! It seems to be doing something very bullish again, exactly what is a little harder to say, but I suspect it's forming a bigger base as I have suspected since the first positive divergence and move up after the big gap down.

 The 1 min chart's trend in a leading positive divergence, very nice.

 Intraday it's not showing much, maybe a little upside volatility, but thus far no strong signal.

 The 2 min chart intraday isn't showing much either, but...

 at 3 mins. we have an intraday neg. divergence, I don't know if this is for a gap fill (yellow) or if it is part of continued base building in which it will head lower and be accumulated in larger size, I'll watch the intraday charts for developments that may give us a clue. At this point I feel safest with a long equity position on a pullback, I wish I had started one at the last low, at least started it.

Ultimately where it matters on the 15 min chart, there's a VERY nice leading positive divergence, the white box is the suspected base. My guess if I HAD to make one is that FB will form a triangle, technical traders will read it as a continuation triangle and expect FB to drop to new lows, at that point a VERY STRONG case could be made for a quick head fake move below the triangle and then FB shooting up higher, how high depends on the size and quality of the base. That's my best guess, but we'll let the charts tell us.