Facebook- March 2021
Published on March 28, 2021
Structure Overview for FB
Based on our last update on FB ( Dec 2020 ), we were looking for a top to form in place and then look for levels to buy. Since then, prices have move sideways.
In fact, prices are sideways since Sep'20. Such a kind of market behaviour reflects correction that is more in terms of time than in prices. Typically such moves when breakout should provide steep price movements.
Now, based on the overall structure of FB that we have studying since its listing, we are expecting FB to form long term TOP. Price should correct, significantly correct. You can see the levels at the chart above.
However, the caution here is if price break above the ATH(all time highs), then we have to follow theory of PoP and Drop. This means that the rally after that break will be the final rally to the TOP.
Fundamental Supports
Technical Assessments
So where are we in the structure :
- Either the TOP is in place and the prices are going down significantly. In that case, we should look at the break of $244 levels. This should be a confirmation that meaningful top is in place.
- Else, if the price break to the upside, then we should look at meaningful top around $400 levels and from there, we should see a significant correction.
- Price breaks 247 240to level
- Trades below 225
- $206 ( first batch)
- $17x ( second batch)
- $120 to $130 ( final batch )
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