Facebook FB showing signs of a weakening trend, and we will most likely have a little gap in the opening price. The 1D candlestick closed bearish, with a lot of strong resistance pushing the price down.
Some KEY levels are $248, where there is now some support built up, $224 and $207 if that does not hold.
We have seen some major pullbacks of the stock recently, compared to previous trends, and several indicators are turning bearish. We will need to await for confirmation, as price could see explosive reaction to the new resistance turned support line established. However, the chart shows that is unlikely.
The overall structure is destabilizing and several indicators are pointing to a Trend Reversal.
I would not buy this stock at this moment, but await confirmation for when and where to buy lower.
Some KEY levels are $248, where there is now some support built up, $224 and $207 if that does not hold.
We have seen some major pullbacks of the stock recently, compared to previous trends, and several indicators are turning bearish. We will need to await for confirmation, as price could see explosive reaction to the new resistance turned support line established. However, the chart shows that is unlikely.
The overall structure is destabilizing and several indicators are pointing to a Trend Reversal.
I would not buy this stock at this moment, but await confirmation for when and where to buy lower.