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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 implies it is in a positive trend. However, the stock has broken through an important trendline at 181.20 suggesting the next level of support is 176.66. The long-term uptrend has now turned neutral.
The stock has support at 176.66 and 167.47. If the stock breaks down through support at 176.66 then it will probably continue lower to 167.47. The stock will meet resistance at 178.10 and 191.36. If the stock breaks up through resistance at 178.10 then it will probably continue higher to 191.36. The 200-day moving average is at 175.97. This will also act as support. If the stock closes below 167.47 a negative trend change is probable. Look for the stock to fall to the level where it started prior to the latest big upmove. The stock is slightly oversold according to the Stochastic Indicator (25.55).”
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