Looking at the chart FB has dropped 20% and currently sitting at the 61.8% fib level from the low in April. It's held here for the past two days but other indicators show this may not be the bottom to this drop (e.g. MACD crossed 0 with lots of divergence on the daily interval and we've broken below the 200EMA). I would expect a further drop and test of the 78.6% level (163.91) which would coincide with the blue trendline and the monthly interval 20 day EMA. Will be keeping a close eye and keep you posted on my entry point. Stay tuned...
Comment:
Monthly interval 20EMA shown for reference.