The second half of 2018 went sour for Facebook investors when a long dip began in July. Share price moved upward to reach 218.11 and fell to 123.25. $FB has enjoyed a smooth ride in the past few years without much hassle until the dip. The fall was at 43.5% which was the worst fall in the history of $FB shares. Most of the stocks in the market fell towards the end of 2018. Technically, an M sign has been formed holding on to a strong support at 123.25.
RSI is currently showing oversold. This oversold position was last reached in 2012. If $FB bulls get into the market amass, this could lead to a change of trend in the bullish direction. The share price of $FB might reach 160 from its current 145.97 when the bulls take charge fully. A breakout of the resistance level might make the bullish movement to continue. Though Ichimoku is yet to give a change of trend, price might also get into range before the uptrend begins.
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