kungfuguo

FB 6/17/2013

BATS:FB   FACEBOOK INC
244 1 1
FB             - has it hit the bottom yet? Over the course of last month, FB             has lost about 20% in stock price, comparing to XLK             (tech sector in general). In the past few days, FB             stock price has stabilized and has began to trend up. MACD is in the positive territory. However, a careful analysis would suggest that the worst may not be over.

(1) the volume has been fairly low (below average) on the past few days, suggesting that up trending may not persist
(2) note the lower lows on stock price and MACD at the corresponding points as labeled. If we are unable to break the key resistant levels, I would expect continuing down trend that may force us to retest low $20s.

Stay tuned.
Nice commentary
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