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Facebook Inc-A Falls 2.39% on Heavy Volume: Watch For Potential Rebound

By Shiri Gupta

Facebook Inc-A (NASDAQ:FB) traded in a range yesterday that spanned from a low of $163.96 to a high of $167.26. Yesterday, the shares fell 2.4%, which took the trading range below the 3-day low of $170.03 on volume of 24.0 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of Facebook Inc-A have traded between a low of $123.02 and a high of $218.62 and are now at $166.11, which is 35% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 2.0%.

SmarTrend recommended that subscribers consider buying shares of Facebook Inc-A on January 8th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $141.34. Since that recommendation, shares of Facebook Inc-A have risen 20.4%. We continue to monitor FB for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders facebook inc-a

Ticker(s): FB