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Facebook Inc-A Set to Possibly Rebound After Yesterday's Selloff of 1.47%

By Amy Schwartz

Facebook Inc-A (NASDAQ:FB) traded in a range yesterday that spanned from a low of $145.39 to a high of $147.76. Yesterday, the shares fell 1.5%, which took the trading range below the 3-day low of $146.74 on volume of 5.8 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 $139.03 and a high of $218.62 and are now at $145.58, which is 5% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has declined 1.3%.

SmarTrend recommended that its subscribers protect gains by selling shares of Facebook Inc-A on July 26th, 2018 by issuing a Downtrend alert when the shares were trading at $176.94. Since that call, shares of Facebook Inc-A have fallen 16.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders facebook inc-a

Ticker(s): FB