Facebook closed above the 50day moving average (shown in green) on a 4 hour time frame. The stock formed a double bottom when it filled the gap at 55.31 which was a bullish pattern. The most important factor here is that it has broken its downward trend line which is a bullish signal. However, as we are still below the 100 day moving average (shown in yellow) which can act as a resistance for the price.
The RSI is trading in line with the price action which means that the bias still could be to the upside, but a caution should be taken as we are going to approach the overbought zone soon.
53.65- 51.76 Major Zone
56.80-55.35 Minor Zone
72.77- 70.76 Major