Facebook readies to pierce current support - Analysis - 22-10-2018

Facebook's stock fell in the intraday levels, amid negative pressure from the 50-day SMA, recording a loss of 0.56% in the last session, or 0.87 points, while leaning on the support of 153.60, representing the ratio 61.8% of Fibonacci retracement levels for an ascending wave in the medium term (from 113.55 to 218.62). 

Therefore we expect more losses for the stock, especially if the support of 153.60 was breached, targeting the next one at 138.35, representing the ratio 76.4% of the same retracement levels. 

Expected trend for today: Bearish