In the chart on my left, I have labeled the down trend formation we have seen in FB since Mar-10th, 2014. We have seen 5 wave down and 3 waves up.
In the chart on my right, I have labeled the 5 wave down as wave A and the 3 waves up as wave B. Today we saw the wave C downtrend starting. Ideally, this should reach the target of $47.19 by June 30th.