A cup-and-handle formation on Facebook’s chart

The chart of the day: T3 Trading’s Scott Redler talked technical analysis on CNBC’s “Mad Money,” pointing to a cup-and-handle formation on Facebook’s chart that signals a move up to its IPO price in a range from $38 to $42. The stock also broke through a key level of resistance at $27. A classic buy signal, Redler said. Jim Cramer agrees. On StockTwits, Greg Guenther posted the chart, but he’s conflicted about whether it’s actually a head-and-shoulders pattern. It’s all in the interpretation.