Saturday, May 25, 2013

Elliott wave analysis on Facebook

Facebook

Just a quick note on Facebook before I'm of to Barcelona.

We should be very close to a bottom now. Under no circumstance can a break below 23.37 be accepted at that would leave us with an overlap between wave 1 and 4, which is not allowed under the EWP.

I'm still looking for wave 5 higher to 33.80

Therefore the current levels also represent a low risk buying opportunity, with a close just below 23.37.

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