The quarterly results, despite beating the estimates made by the main analysts, have quickly faded into the background.
The share price is not going through its best moment.Despite the initial boost from the results and the announcement of a $50 billion share buyback, the stock has once again pierced its 200-session moving average ($325). A weekly close below this reference would leave the stock badly hit, a weakness that could lead to a new corrective impulse in search of the base of its medium-term bearish channel, that is to say the $300 level.
Pro1 PREMIUM Portfolio
Resistances: $342, $360, $377, $383.
Supports: $300, $290, $260, $235.
Targets: (Bullish) $345, $360, $380 (Bearish) $300, $260.
Trend structure in FACEBOOK:
- Short term: Neutral-bearish.
- Medium term: Neutral-bullish.
- Long term: Bullish.