Seems that facebook may be edging lower on several reasons
1) Geo-political - overpriced stocks get pummeled on concerns
2) This lead to break the pattern of new highs
3) A second shoulder has been broken and room opened for the bears
Reached the support level (previous resistance), and next support levels are close. Edging back up today with the markets means that the stocks is highly sensitive to the markets reaction to geo-political instability, and may change accordingly
1) Geo-political - overpriced stocks get pummeled on concerns
2) This lead to break the pattern of new highs
3) A second shoulder has been broken and room opened for the bears
Reached the support level (previous resistance), and next support levels are close. Edging back up today with the markets means that the stocks is highly sensitive to the markets reaction to geo-political instability, and may change accordingly
