Facebook Stock Technical Analysis: Facebook stock experienced a downward trend today, recording a high of $612.33 and a low of $596.73. The stock is currently trading around $604.82, reflecting continued downward pressure throughout the session.
Facebook Stock Technical Analysis: Technical Analysis
- Moving Averages:
Facebook stock is currently trading below its major moving averages, reflecting the strength of the downward trend. This situation indicates the dominance of sellers in the market, which increases the likelihood of a continued decline in the short term.
- MACD Indicator:
The MACD indicator is showing negative signals, trading below its signal line, supporting a bearish market trend. This indicates strong selling momentum that may continue to push prices towards lower levels.
Future Outlook:
With prices continuing to trade below the moving averages and the MACD supporting the downside, the outlook suggests the stock could target lower levels, especially if the $597.47 support level is decisively broken. However, the resistance levels at $617.33 should be monitored, as any break above this level could signal a temporary reversal.
Trading strategies based on Buy/Sell levels
| Facebook Stock | In case of buying | in case of selling |
| Entry point | 617.33 | 597.47 |
| Target Point 1 (TP1) | First resistance: 626.75 | First support: 587.36 |
| Target Point 2 (TP2) | Second resistance: 630.47 | Second support: 580.41 |
| Stop Loss (SL) | 597.47 | 617.33 |
Facebook’s stock is showing a bearish performance today amid a negative trend supported by negative technical indicators. Traders are advised to monitor key resistance and support levels, focusing on signals from technical indicators such as moving averages and MACD to make informed trading decisions. Under these conditions, it is advisable to be cautious of a continued decline, especially as technical indicators confirm the downward trend.
