FB Facebook Faceplant Falling Wedge Oversold Positive Divergence

Faceplant is finally ready to rock with price working down towards Keystone's target from a couple months or so ago. The 80/20 rule says 8's lead to 2's, so the failure of 18.20 should lead to 17.80. FB printed sub 18 pre-market today.  The black falling wedge is bullish as price compresses into a spring.  The green lines show the positive divergence now in place. The stochastics and money flow, however, are playing games over the last two weeks and want to see one last dipsy doodle, so the entry area would be 17.75-17.90. If price runs higher from here and does not look back, so be it, good luck to them.  But it appears that if you wait for the 17.7-17.9 entry over the next few days, that will be rewarded with a strong positive divergence and a price move to 22. The beating is now severe and down to the bone, so some relief is on tap. September is a quarterly window dressing event so the last of companies ashamed to show this stock on the Q3 quarterly report are selling, and this behavior should be wrapping up over the next week or two also favoring a recovery in the back half of the month for this Faceplant fiasco. Projection is up from this area to 22. This information is for educational and entertainment purposes only.  Do not invest based on anything you read or view here.  Consult your financial advisor before making any investment decision.

Note Added 9/4/12 at 6:02 PM:  After the bell, Zuckerberg announces that he plans on holding all his stock for a minimum of one year's time.  Although not a surprise, any little bit will help the bulls.  These types of stunts, however, continue to highlight Faceplant and Suckaberg as amateurs. But, the technical analysis remains in play above, and FB looks good to go to 22.