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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 202.23 suggesting the next support level is at 193.10. This weakness suggests the long-term trend is turning neutral.
The stock has support at 193.10 and 181.50. If the stock breaks down through support at 193.10 then it will probably continue lower to 181.50. The stock will meet resistance at 202.23 and 244.39. If the stock breaks up through resistance at 202.23 then it will probably continue higher to 244.39. The 200-day moving average is at 180.88. This will also act as support. The stock is extremely overbought according to the Stochastic Indicator (76.79).”
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