Facebook Wave Analysis – 19 February, 2020

• Facebook broke key resistance level 215.00
• Likely to rise to 224.00

Facebook recently broke above the key resistance level 215.00, which previously stopped the short-term impulse wave (i).

The breakout of the resistance level 215.00 should accelerate the active impulse waves 3 and (3).

Given the clear daily uptrend – Facebook is likely to rise further toward the next resistance level 224.00 (top of the previous impulse wave 1 from December and the likely price for the completion of the active short-term impulse (iii)).