Weekly 200sma and daily support at 164
If FB opens below yesterday's open (below yesterday's green candle body) that is very bearish. I added this white support line to a previously published chart, around 164, which is also 200 moving average support on weekly chart. If market selling continues today then FB could touch this price today or tomorrow.
Note
Support for bearish open and more selling:* 5 min chart, stochastic %K drops from 80 to 20 in 3 candles
* look for RSI to return below 50 on 30m amd 60m charts
Note
Be patient. Use smaller positions to stay comfortable through the tug of war price action (i.e. volatility!)
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.