FB Amazingly on track

The bottom line is FB's base is looking very good.

On the 24th this week I updated FB, the first link was to a post the previous week in which I warned FB was about to pullback. 

In fact, I even showed a chart of what I expected to see in FB on the pullback in the update (first link).

This is the chart from that post and below is the commentary that went with this chart.

"Although an ugly day, it doesn't do much damage to the base we expected to form back at the start of August, in fact thus far it's quite a bit bigger than I thought it would be. Today's price action introduces a bit of symmetry in what appears to be a H&S bottom with the right shoulder starting today."

Now we know what we expected to see, a second shoulder as part of an inverse H&S base, here's how things turned out...

The symmetry mentioned in the earlier update is now in place as FB moves up nearly 8% today on a longer term base we have been interested and invested in.

The other charts...

 The right shoulder area on a 30 min chart shows a gap that may cause some resistance/volatility in the area as we approach it, above that is the base's neckline.

 Intraday 1 min, FB looks a bit frothy at a +7.8% gain on the day, but keep going...

 The 10 min chart shows a negative divergence from last week which is the one in which I warned about last week, we see a positive and then leading positive divergence as the right shoulder is formed exactly as expected.

 The 15 min chart shows the same trends with a very strong leading positive divergence.

This keeps our base looking very strong as you can see its entirety on this 4 hour leading positive chart.

The bottom line is you can trade around FB, but I rather just hold the long and let it develop, FB has surprised many before and we caught that move to the upside, it also move on its own against or with the market, it's full of surprises and I suspect this base will provide the next big surprise for the FB haters.