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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. However, the stock has recently broken down through an important fibonacci fan trendline at 264.70 suggesting the next support level is at 250.15. This weakness suggests the long-term uptrend is turning neutral.
The stock has support at 250.15 and 232.03. If the stock breaks down through support at 250.15 then it will probably continue lower to 232.03. The stock will meet resistance at 263.69 and 278.89. If the stock breaks up through resistance at 263.69 then it will probably continue higher to 278.89. The 200-day moving average is at 220.87. This will also act as support. The stock is neutral according to the Stochastic Indicator (36.32).”
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