beursfanaat

Facebook: breakdown short or an overshoot

Short
NASDAQ:META   Meta Platforms
Facebook's stock price has been under pressure since yesterday. Now we see a continuation pattern by falling through the level of the main Fibonacci EMA. There has been no signal of a rebound yet. In the past we saw a rebound which reached an important Fibonacci EMA line. At the moment Facebook is going to put pressure on the next line. Is the stock going to rebound like it did a few months ago? I don't think so. The accumation of negative sentiment that has been formed since October/November is a process of acceleration bearish sentiment during this year. The next target is 154 dollars, below that line 136 dollars is the main target for shorters. The latter is - for now - a too far away goal...

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