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Facebook Inc (FB) “On a long-term technical basis, the stock (FB) is trading above its 200-day moving average which generally implies it is in a positive trend.
The stock has support at 232.26 and 218.77. If the stock breaks down through support at 232.26 then it will probably continue lower to 218.77. The stock will meet resistance at 240.90 and 281.42. If the stock breaks up through resistance at 240.90 then it will probably continue higher to 281.42. The 200-day moving average is at 203.22. This will also act as support. The stock is extremely overbought according to the Stochastic Indicator (77.00), and turning down, which suggests a pause or possible pullback, especially if near resistance. Confirm this with the Short-Term and Daily Outlook to keep from exiting prematurely.”
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