Shares of Facebook Inc (FB) are lower again today. The stock has fallen sharply after reporting earnings that were solid, but Wall Street expected more. In addition, regulation and a potential breakup of the company loom into 2021. These headwinds will continue to push investors and institutions to unwind their long positions accumulated over the last few years. Based on Facebook stock chart analysis, near-term downside target 1 is $234.30. The second target is the daily 200 moving average which currently sits at $226.95. Could Facebook get below $200/share? The answer is yes, but not until mid-late 2021. For that to happen, the economic recovery would have to stall and advertisers would need to pull back heavily on their ad spending.
Facebook stock chart analysis is used to find the bounce levels for investors looking to buy. I will be very interested at $234.30-$226.95. I would expect a significant bounce off that level. Using the charts allows investors to avoid emotion and find exact entry levels.
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