META
stock broke a short term resistance around $246 last July. The $246 area became support and has remained as such for last 7 months. It has been tested at 3 different occasions. On the upward side FB has been battling a downtrend. It has tested a descending line 3 times.
FB has been lagging the SP500 for the last 4 months.
I don't currently have a position or plan to initiate one, just watching. With the news coming out of Australia it will be interesting to see what this stock will do in the next few weeks.
Keep it simple: price action and volume
