sumastardon

FB: Facebook Life and Times

NASDAQ:FB   FACEBOOK INC
Facebook:FB Life And Times
This chart shows Facebook from it's IPO to the present. In less
than 6 years FB has risen from an all-time low just under 18 to
an all-time high at 195.
Once or twice per year it usually makes a rough 20-24%
correction - but, as with so many stocks, has not corrected
properly for over 18 months now, ever since the election surprise.There's a gap on the chart at 155.5. Taking 20% off
the top gives a 156 target which is also structure highs to left
of price on chart, so there is a a good chance it will find
support there when touched. Providing it steadies here and
starts to fight at 155 it should start to rally back to 164 before
it comes off again.
If wrong here and the upper range of the structure to left is
not strong enough to support FB come Monday, it will most
likely spike lower still to test the lower end of the same
structure at 145-144, offering a potential entry point with
stops under 143 if we see it this week.
Also worth noting: there has only ever been one violation of
the long term trend line/lower parallel - for one day.
All tests of this line have been longer term buying
opportunities, even that scary-looking one day violation.

How much lower do you think the stock can go after rallying to 164?
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Spammer
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I think that TECH overall is seeing a migration from as this BULL is getting old and every great bull has ended with inflationary trades performing best, energy, materials and industrials that support these industries. This is where the value is, growth has outperformed for a decade and counting, value has lagged significantly. So the broader trend is towards value and towards a cyclical rotation into sectors that would benefit the most from inflation. With the ongoing negative news cycle that will continue to pummel Facebook, and with there desperate need to monetize Instagram to make up for any shortfall, the negativity towards both of these platforms will only increase as who wants to scroll down a feed from a friends or interests to see ads on things that you just bought, search for, messaged a friend about or talked about (yeah, the truly horrific thought that seems to be occurring more frequently!) Because of all of this, those past lines of support may and probably will break quicker than anyone expects, as we all know a stock can fall a lot faster then it rises.
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