FB is selling off from the whole GME fiasco + Apple privacy war. Although there will be revenue damage from Apple's new privacy changes, FB is undervalued relative to the overall market especially with an outstanding earning. There's a strong support at $245 but it might now goes down that low. There're 2 good plays in my opinions:
Safe play: Wait for either one...
I've been following $BABA for the past 3 weeks and I think we hit bottom today at $253. RSI on daily touch 32 and bounce off. I'm calling it and bought some DEC 31 275C and leap.
RSI is starting to fall after hitting overbought level and while vaccines signals a change in fundamental and returning back to normalcy will happen, SPY is actually 10% up year to year and has little upside to continue. As Covid cases rise and soft lock down happen across the country, the better play will be short the next 2 weeks or until SPY find supports...
