WaveTrack International

Elliott Wave Financial Price Forecasting

Facebook is set to resume it’s decline

by m.tamosauskas| June 20, 2014 | 2 Comments

140620_Facebook

The advance from the Sep.’12 low to the March ’14 high of 72.59 unfolded into a five wave expanding-impulse pattern labelled 1-2-3-4-5 in primary degree. Extending the net advance between primary waves 1 to 4 (17.55-51.85) by a fib. 61.8% ratio we can project the high for wave 5. The actual recorded high of 72.59 was just a few cents below the ideal upside measurement which confirms the completion of a five wave pattern to the upside. Each five wave advance must be balanced by a corrective sequence and in this case the decline that began from the 72.59 high is expected to unfold into a single zig zag pattern labelled A-B-C in primary degree. Primary wave A completed the initial decline into the April ’14 low of 55.44 and the following counter-trend advance as primary wave B just ended into the recent high of 66.47. Back in early May ’14 we projected the high for this advance to 66.00+/- and this appears has been achieved. The subsequent decline began the final price-swing as primary wave C. It must unfold into a smaller five wave sequence with ultimate downside targets measured towards 45.00+/- – a fib. 50% retracement level of the preceding advance (17.55-72.59). A test to this support level is expected sometime during the next few months.

 

Category: Facebook

Comments

2 Responses to “Facebook is set to resume it’s decline”

  1. kiran
    July 1st, 2014 @ 3:55 am

    Hi,
    FB’s B wave looke like moving in expanded flat and has to see prior high, before actual decline.

    Please update chart

    Thx

  2. Wavetrack International
    July 1st, 2014 @ 6:54 am

    Hello Kiran,

    you can also find us on the Facebook (https://www.facebook.com/WaveTrackInternational) where we alternate our free posts and this equity is updated more often here, the last update was yesterday. Have a nice day!

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WaveTrack International is a financial price forecasting company dedicated to the Elliott Wave principle and work of the R.N. Elliott. Clients include Investment Banks, Pension Funds, Total/Absolute-Return/Hedge Funds, Sovereign Wealth Funds, Corporate and Market-Making/Trading institutions and informed individuals -- & just about anyone who is affected by directional price change.

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