FB - battling to hold the 50 day MA

Whilst the main indexes saw some minor price chop, Facebook (FB) battled back from early declines, and closed significantly higher, +3.9% @ $50.10. Near term trend remains weak, but the broader trend is still very much bullish.


FB, daily

Summary

Suffice to say, FB is probably just building a large bull flag, in a broader up trend.

There looks to be next to zero chance of FB falling into the 30s..never mind the 20s. where it was stuck for the bulk of this year.

Year end target - assuming the main market can break into the sp'1850/1950 zone, will be the low $60s.