Facebook reached to all time high in its new bull rally started from beginning of the year 2017. It reached all time high of 153.5 on 3rd May 2017 and then was in trading range till 11th July 2017. This also created a squeeze for Bollinger Band. On 12th July price broke outside trading range/resistance. It also tagged upper Bollinger band indicating increase in volatility generating buy signal. One could take long position as of now. Trading range resistance becomes support around 156.5 which is stop loss for the stock