Facebook drops on profit-taking - Analysis - 18-01-2017

Facebook's stock fell in the intraday levels, recording a loss of 0.37% in the last session, or 0.47 points, as traders took profits of past short-term gains, while the stock vents off the overbought saturation apparent in relative power indicators, gathering thereafter positive momentum that might help it rise again, amid the dominance of the upward trend in the medium and short terms, with ongoing positive support from the SMA for the last 50 days period.
 
Therefore we expect the stock to return higher in the coming trading, targeting the resistance of 131.98, with a chance of a bounce lower to vent off the overbought saturation.