Please see my last post on Facebook here first: http://theelliottwavesufer.blogspot.dk/2013/03/facebook-has-bottomed.html, but you should also take a look at my long term Elliott Wave count for Facebook here, to get the right perspective: http://theelliottwavesufer.blogspot.dk/2012/08/facebook-monthely-close-basis-facebook.html
The failue to break above important resistance at 28.94 followed by the break break below important support at 26.83 yesterday told us, that wave 4 wasn't over and that my original target near 25.60, where wave 4 will have corrected 38.2% of wave 3, still is in play. At 25.72 wave c of 4 will also be 2.618 times longer than wave a of 4, so we should expect strong support as we close in on this area.
More important wave 4 is an expanded flat correction (wave b went beyond the beginning of wave a and wave c has move way below the end of wave a) and that tells us, that we should expect a very powerful wave 5 once it takes over. We should even expect wave 5 to be an extended wave and if that will be the case, then we should see wave 5 rally to 40.35, where wave 5 will be equal in length to the distance traveled from the bottom of wave 1 top the top of wave 3. That would be a rally of more that 56% if it comes true.
