Meta PlatformsLong
FB pullback to the 50sma again... Buying the dip
Facebook has tested the 50sma at least 4 times since March 2021.
Transposing the past trends from the 50sma to today's action we get several targets for taking partial profits.
OBV is still in a supportive uptrend, however, RSI has reached its worst level since mid-March at 43.
Very clear opportunity to enter a position now around the 50sma. If the price stays above the last low on August 19th around $351, we are still making higher highs and higher lows.
Transposing the past trends from the 50sma to today's action we get several targets for taking partial profits.
OBV is still in a supportive uptrend, however, RSI has reached its worst level since mid-March at 43.
Very clear opportunity to enter a position now around the 50sma. If the price stays above the last low on August 19th around $351, we are still making higher highs and higher lows.
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