FB Update

FB looks pretty simple, whenever there's doubt in charts, go to the longer term, less noise and higher probabilities, not that there's much doubt in FB.

FB is technically still in its base which needs to break above $24.75-$26.75 before it's considered stage 2 mark up where trending becomes a lot more likely.

I have no problems with sticking with FB right now.

 FB saw a nice pop of well over +20% in a day, that's going to see profit taking and consolidation.

 The 5 min chart has more detail than longer charts, the positive divergence through October launched FB higher, but there was immediate distribution in to the move, since then it has seen a leading positive divergence as it pulls back.

The 15 min chart is more trend, the positive divergence that was building before FB launched is clear, the distribution on the pop up is not as clear because it is not as strong and didn't make it to this longer chart, however the positive leading divergence on the pullback is making it on this chart, this is why I have no problem holding FB.