I used a couple different indicators. RSI, Vol, EMA, Mac D. All these indicators point me the same direction. While it's definitely oversold according to the RSI, it only confirms a small rebound. But the EMA and mac D both paint a bearish picture in the future. This stock will either continue to plunge, or will end up consolidating at a lower price range and...
Could Facebook find a new support?
After the ABCD pattern prices broken another important level around 169.94, and if the bear continues, we can might see this asset reaching his next historical minimum at 145.31
Floor seams to be hanging in there (Blue)
Possibility of a reverse head and shoulders
I think FUD panic will strike and establish a new floor 200 then retest
This one is a tough call
any feed back would be appreciated
We see that there is a downside channel in FB stock. For the ones who ask the entry level to that stock is around 357$
1. We should be sure that the downtrend is over (Above the blue channel)
2. We should believe that the resistance area (red area) is broken upwards.
So, do not hurry to go long for facebook, just wait the right time.