NASDAQ:FB Meta Platforms, Inc
If you look at the weekly chart for FB , you'll notice that the weekly Doji's on 12/22/14, 3/23/15 and 4/20/15 all made lows three weeks after the week. On the 2 weeks ago on 5/18/15, Fb was lower the next week, it should be lower the following 2 weeks also imho. The average drop for the 3 previous weeks was $4.97 from the close to he low three weeks later. You'll notice that has also dropped on the weekly chart. A shows a sell using the indicator and also the Indicator shows FB is in a downtrend. Fb has been weak lately, unable to hold above its 50 day moving average and fell below the 200 day moving average briefly. I expect another test of the 200 DMA this week or next and a close below it. Last quarter revenue was sequentially lower than the quarter before and in the January conference call, the company said to expect revenue to decline 5% this year due to expenses and the rising dollar. I'm short Fb with June puts. I expect Fb to decline to 75.51 by June 12.