Facebook exits ascending price channel - Analysis - 21-03-2018

Economies.com
2018-03-21 14:47PM UTC

Facebook's stock (FB) fell in the intraday levels, recording a new loss of 2.56% in the last session, or 4.41 points, while getting hurt by exiting an ascending price channel that limited recent short-term trading, with negative pressure from the 50-day SMA, coupled with a noticeable rise in trading volumes. 

 

Therefore we expect more losses for the stock, especially if the support of 161.56 was breached, targeting the next one at 147.80. 

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