FACEBOOK - Communication is not subject to crises!
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Good day to all! An interesting picture is obtained when analyzing the shares of the well-known company FACEBOOK INC.
The price of the stock has been moving in the flat channel since 2016. As you can see on the chart, nothing terrible during the stock market crash in 2020 did not happen with the stock price. All within the channel. Price pushed off from the upper border and moves to its lower border. The correctional movement ABC is formed. Levels are shown on the chart.
Also seen is the formation of a double top. But it will be possible to consider this option in case of breakdown of the lower boundary of the channel or the level of 116.64. In this case, the price will continue the downward movement to the level of 28.43.
Most likely, this option will be possible with global changes in this company such as: the exit of investors, the main owner or something else that could lead to such a drop in the share price of a high-tech company, a service that is even more relevant during the global epidemic and quarantine.
According to the indicators on the daily timeframe, the price has adjusted, but remains in the oversold zone, the continuation of the downward movement is possible.
Thanks to all my subscribers and readers for your attention! 🙏Your likes and comments motivate me to give you more accurate information and analytics.
Success and profit!🤑
Don’t leave without like and comment, and if you liked my analytics sign up and you definitely won’t miss anything!
Disclaimer!
I do not give entry and exit points.
I share with you my opinion and ideas, which may differ from yours.
The price of the stock has been moving in the flat channel since 2016. As you can see on the chart, nothing terrible during the stock market crash in 2020 did not happen with the stock price. All within the channel. Price pushed off from the upper border and moves to its lower border. The correctional movement ABC is formed. Levels are shown on the chart.
Also seen is the formation of a double top. But it will be possible to consider this option in case of breakdown of the lower boundary of the channel or the level of 116.64. In this case, the price will continue the downward movement to the level of 28.43.
Most likely, this option will be possible with global changes in this company such as: the exit of investors, the main owner or something else that could lead to such a drop in the share price of a high-tech company, a service that is even more relevant during the global epidemic and quarantine.
According to the indicators on the daily timeframe, the price has adjusted, but remains in the oversold zone, the continuation of the downward movement is possible.
Thanks to all my subscribers and readers for your attention! 🙏Your likes and comments motivate me to give you more accurate information and analytics.
Success and profit!🤑
Don’t leave without like and comment, and if you liked my analytics sign up and you definitely won’t miss anything!
Disclaimer!
I do not give entry and exit points.
I share with you my opinion and ideas, which may differ from yours.
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