Facebook looks disgusting. Once the overall leader and high flyer of the market has done nothing more but decrease the value of portfolio owners in 2018.

Ever since the major run up into earnings that you can see below, followed by the major PRO gap down that has held for quite some time on a daily timeframe, FB has been completely out of play. It is now significantly below the 100 and 200 day MA and is not bouncing...

There are levels on every chart, levels where buyers should step in and hold the price or sellers will show up. When these levels do not show significance when they SHOULD, that is a very bad sign. Facebook should be bouncing here and it is not. Therefore what I believe may be going on is that the big boys who have been holding since the 30s and 50s are unloading the shares before earnings.

If the market continues to make another low (which I believe happens) I believe FB is setting up a puke pattern. It needs to bounce ASAP.

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by heyimsnuffles

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