Technical analysis

Facebook Wave Analysis 4 May, 2021

• Facebook reversed from resistance level 329.00

• Likely to fall to support level 307.50

Facebook recently reversed down from the resistance level 329.00 intersecting with the daily up channel from March and standing well above the upper daily Bollinger Band.

The downward reversal from the resistance level 329.00 created the daily Japanese candlesticks reversal pattern long-legged Doji.

Facebook is likely to fall further toward the next support level 307.50 (top of the previous wave (b) coinciding with the daily up channel from March).

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