META
In a summary
Recently, due to US inflation affecting most US stocks, as well as Wall Street Journal allegations against Facebook over Facebook's awareness of Instagram harming teens and Facebook's failure to take action to control the issue. The WSJ says the company prefers profit, Facebook shares fell 4% from Monday to Wednesday. With all these interpretations and other things, Facebook is not in a good position fundamentally, but let's take a look at the $ 1 trillion price chart of this company and see how the company's stock is technically doing.
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1. A very nice uptrend channel is recently broken
2. A nice short-term support zone is broken (150$)
3. Also the price has broke the EMA towards down
BUT
4. The price is still moving in a long-term uptrend (with 2 touches)
5. RSI is inside the oversold range (29) and this number has acted for a great bullish move on March 16th , 2020 , so we can be hopeful to this indicator for a bullish move
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Now let's take a look at Support levels :
S1 : 333
S2 : 302
S3 : 245
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I think for now it's good to put it in our weekly watchlist and check how the price will act in next week
also we need to check the news about the company according to problems with WSJ ect ...
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my personal opinion is that Facebook is a great and valuable company and I don't think the price will stay down for long time
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Guys if you decided to trade on this stock , consider the risk and have a good risk management and don't forget about SL
*this is just a personal analysis and this person has no responsibility of your trade and risk*
Wish you all luck guys !