Their biggest sorrow is credibility as Zuckerberg threatened to cut FB and Instagram from European customers which obviously they don't but it made investors nervous. Long story short - down trend to last certainly a little longer.
FB on the daily chart looks very ugly. If the premiums were not so rich, I would have shorted this already with put options.
%% I still use them some/but favor duck duck go\no censorship as FB is known for. The good news for FB is MARCH tends to set the low in tech ETFs, etc...................................... MAR low is % 137 area in 202o\LOLNOT a prediction. MAY buy a tech ETF with FB\ may not\ in it , but tech ETFs were such a value play in 2021, i bought not much...........................
IMV... FB can't be confirmed(?) as bearish until it closes and HOLDS <$120. Short of that, trading "noise".
Wouldn't you just LOVE for FB to trade to $120/support... and to buy OTM calls somewhere above that? Well, the charts say that "potentially BIG trade is in the cards as for now*. Keep an eye out. (Of course if FB crashes below <$120... that's a different issue.) * If it turns out thus, you can show your appreciation by sending me a box of Omaha Steaks... or donating $25 to a local no-kill animal shelter. I'd feel appreciated with either.
%%\\ LOL\ maybe right; but i kept my IBD newspaper\ FB ipo chart/\ low was about $27.777.[Partial disclosure + keeping it positive\ FB has good sell volume \ but i like duck duck go/ better]
And how about the fact their most recent quarterly showed an actual first time ever decline in total number of members. No growth or even negative growth is nooo good.