Facebook stock price growth channel in action Targets in descrip

The more the world absorbs: the Internet, the virtual universe, and the like, the higher the stock price of the companies that control social networks.

Today, we will analyze the share price of the Facebook corporation. It ranks as one of the Big Five tech companies along with Microsoft, Amazon, Apple, and Google.

Although the company has been since 2004, trading in FB shares began on May 18, 2012. The first day of trading closed at $38.23, just $0.23 above the IPO price. The minimum value of the share price was fixed on 08/04/2012 at $17.55, which at the time was more than -50% lower than the fixed IPO price.
However, since then a growth trend has begun, which has been going on for almost 10 years.
Today, FB's share price is ten times the IPO price and 20 times more, the minimum price.

From 2014 to the current day, the price of Facebook shares has been moving in a beautiful channel upward, where the cyclical movement in the upper and lower parts of the channel is clearly traced.

In May 2019, Facebook founded Facebook Libra in order to develop its own stablecoin of the Libra cryptocurrency. However, the project collided with bureaucracy and US laws and disappeared from the horizon of public development.

At the moment, it is likely that the FB share price will be in the consolidation of $325-359 for some time. After fixing the price above $359 — a strong long to the upper targets of $435-455

Below $285, it is better to abandon the long for a while, as the way will open for a fall to $ 218-220. There will be the lower border of the growth channel, as well as a strong mirror level, which has repeatedly served as resistance and support in the past.