Facebook Wave Analysis – 07 January, 2020

• Facebook broke strong resistance level 208.00
• Likely to rise to 218.00

Facebook recently broke above the strong resistance level 208.00 (former strong resistance level which stopped the sharp uptrend in July, and also wave 3 in December).

The breakout of the resistance level 208.00 accelerated the active impulse waves 5 and (3).

Facebook is likely to rise further toward the next round resistance level 218.00 (multi-year high from July of 2018 and the target for the completion of the active impulse wave (3)).