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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.
The stock has support at 201.06 and 175.06. If the stock breaks down through support at 201.06 then it will probably continue lower to 175.06. The stock has resistance at 203.80 and at 218.77. If the stock breaks up through resistance at 203.80 then it will probably continue higher to 218.77. The 200-day moving average is at 191.12. This will also act as support. The stock has broken out of its long-term downtrend and is looking more positive recently. If the stock can form new support above 201.06 look for a rally to previous highs. The stock is extremely overbought according to the Stochastic Indicator (87.48), so look for a possible pullback soon. Confirm this with the Short-Term and Daily Opinion to keep from exiting prematurely.”
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