Shares of Facebook (NASDAQ:FB) surged higher Tuesday for the fourth straight day, filling a major gap on the daily stock chart. Gaps, when filled to the upside are major resistance points, which in normal market conditions, would be a strong 'sell' indicator.
Don't Worry
But in today's bull market, we expect little more than a small pull back. The minor downside is the gap fill working its magic but the small-ness is due to the euphoric, bullish nature of the stock market. It limits almost all pull backs. Based on the gap fill at $187.85, investors should expect a minor pull back to $184.25.
