This Chart Shows Facebook IS On the Cusp of a Major Buy Signal

Facebook is already the best-performing 'FAANG' stock in 2017. This chart shows it's about to trigger a brand-new buy signal.
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Facebook (FB) - Get Report has managed to survive the "FAANG selloff" better than its peers it's the best performer in the group year-to-date, up 34%. Now, shares look ready to kick off a brand new buy signal. Facebook is forming an ascending triangle pattern that triggers a buy above $155.

Shares are currently within grabbing distance of that $155 breakout level, with extra upside confidence coming from a relative strength uptrend that's been intact all year long.

This article was written by a staff member of TheStreet.