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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 190.91 suggesting the next support level is at 179.34. This weakness suggests the long-term trend is turning neutral.
The stock has support at 179.34 and 164.98. If the stock breaks down through support at 179.34 then it will probably continue lower to 164.98. The stock will meet resistance at 189.60 and 205.47. If the stock breaks up through resistance at 189.60 then it will probably continue higher to 205.47. The 200-day moving average is at 173.88. This will also act as support. The stock is slightly overbought according to the Stochastic Indicator (74.65).”
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