Michael_Macdonald-XATSUK

Facebook remains under long term pressure

NASDAQ:FB   Meta Platforms, Inc
The sharp rejection of the October highs is attempting to stabilise above USD113.00.

Consolidation is highlighted in the coming week or so, but the fall in momentum studies and deterioration in sentiment are likely to keep prices under pressure into the beginning of 2017Q1.

Also, from a relative perspective, Facebook is also underperforming the US Technology Sector, which itself is Underperforming the S&P500 . This double filter also highlights downside risks into the coming months.