Facebook doesn’t set up as a low risk buy very often. It is now. There is a solid support zone in place just below current levels($149.00-$146.50). This area includes the initial 2018 low set back in late March near the upper band. This level has held the post earnings(10/30)lows as well. The lower band is marked by the 10/31 post earnings upside gap. A close below $144.00 would be a clear warning sign and could indicate an initial test of the 40 week moving average($135.00 area)is on the way.
Of note, Weekly MACD remains at its deepest oversold reading ever. Daily MACD continues to trace out a divergent low.
At time of publication we do not have a position in $FB.