Meta Platforms (FB), formerly known as Facebook, closed the week well below its long term weekly MA support lines.
The recent post relating to Facebook, “So… Where Are We With Meta/Facebook/FB?“, showed how FB broke below its 250-week EMA body support line, while respecting the 296-week EMA (wick) support line.
In the past week the stock showed no mercy (some would say: ‘no respect’) and smashed through the wick support line. Take a look at this visual:
FB keeps pushing the respected moving average lines down. These are the new respected lines (as of today…):
The wick support line is set to be the 308-week SMA and the body support line is set as the 296-week SMA.
Can’t ignore the whole number $200 in close proximity.