facebook, then and now
- Above I've shown 2 charts of FB. The one on the left is feb-march 2020 and on the right is present day.
- What I'm trying to show is the break of 200d SMA, followed by a re-test, which failed and led to the march crash of 2020.
- FB breaking its 200d SMA is a rare occurrence and should be taken seriously
- The exact same thing seems to be playing out right now which means FB can correct further this week itself.
STRATEGY:
- I think FB is in a bear market/ downtrend so will only go long when levels are very attractive
- I wouldn't short at current levels either as its already fallen a decent amount
- There's a demand zone about 6% lower which could be a good opportunity for a short term trade
- What I'm trying to show is the break of 200d SMA, followed by a re-test, which failed and led to the march crash of 2020.
- FB breaking its 200d SMA is a rare occurrence and should be taken seriously
- The exact same thing seems to be playing out right now which means FB can correct further this week itself.
STRATEGY:
- I think FB is in a bear market/ downtrend so will only go long when levels are very attractive
- I wouldn't short at current levels either as its already fallen a decent amount
- There's a demand zone about 6% lower which could be a good opportunity for a short term trade
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