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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 recently broken through an important trendline at 206.97 suggesting the next support level is at 198.09. This weakness suggests the long-term trend is turning neutral.
The stock has support at 198.09 and 183.77. If the stock breaks down through support at 198.09 then it will probably continue lower to 183.77. The stock will meet resistance at 206.97 and 250.71. If the stock breaks up through resistance at 206.97 then it will probably continue higher to 250.71. The 200-day moving average is at 182.37. This will also act as support. The stock is slightly oversold according to the Stochastic Indicator (25.92).”
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