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.