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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 283.19 suggesting the next support level is at 259.88. This weakness suggests the long-term uptrend is turning neutral.
The stock has support at 259.88 and 244.13. If the stock breaks down through support at 259.88 then it will probably continue lower to 244.13. The stock will meet resistance at 268.33 and 283.19. If the stock breaks up through resistance at 268.33 then it will probably continue higher to 283.19. The 200-day moving average is at 226.76. This will also act as support. The stock is slightly overbought according to the Stochastic Indicator (67.17).”
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