Simple long-term-channel-trend analysis.
Expecting some remarks on FB's future outlook in the next 36hrs. Earnings tomorrow. (October 30th, 2018)
It appears this current range is a break below support for FB long-term-trend.
The question is if their earnings will provide them a bounce and potentially stabilize price.
If earnings are not as expected, or better, we could see price confirm a break through support.
Neutral until earnings are released, and price appears to confirm a move in one direction or the other.
Expecting some remarks on FB's future outlook in the next 36hrs. Earnings tomorrow. (October 30th, 2018)
It appears this current range is a break below support for FB long-term-trend.
The question is if their earnings will provide them a bounce and potentially stabilize price.
If earnings are not as expected, or better, we could see price confirm a break through support.
Neutral until earnings are released, and price appears to confirm a move in one direction or the other.
Note
Taking a look closer a few days later, got a bounce off the suspected supporting long term trend. Followed by consistent selling the days after.
FB is not out of the woods yet.
Sitting on hands.
Trade active
There she goes!
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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.