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Look for Shares of Facebook Inc-A to Potentially Pullback after Yesterday's 3.32% Rise

By James Quinn

Facebook Inc-A (NASDAQ:FB) traded in a range yesterday that spanned from a low of $157.02 to a high of $160.93. Yesterday, the shares gained 3.3%, which took the trading range above the 3-day high of $159.27 on volume of 12.6 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that its subscribers protect gains by selling shares of Facebook Inc-A on January 30th, 2020 by issuing a Downtrend alert when the shares were trading at $208.09. Since that call, shares of Facebook Inc-A have fallen 24.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

In the past 52 weeks, shares of Facebook Inc-A have traded between a low of $137.10 and a high of $224.20 and are now at $160.83, which is 17% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 2%.

Keywords: rebounders facebook inc-a

Ticker(s): FB