To my understanding, there is strong support at 265 and it held quite well. Aside from your shorting idea, your long analysis is spot on. However, I do think the resistance at 286 will become support after Feb 2021. The volume is low at the moment.
Note: The writer holds a long position and this is entirely my own opinion. This should not be considered as investment advice.
msttraders2
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@GeniusGenie_ yes volume is low and this time for keep stock for mother stock....for option my opinion under monitor couse still downtrend...
GeniusGenie_
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@msttraders2, Totally agree! FB is on a downtrend. I will be monitoring the key levels. I took profits at 278 :)
Thank you for sharing your idea :)
varunthapliyal00
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cant it rebound at 267 ?
varunthapliyal00
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Can i know how u concluded 259 as support line for a rebound ?