Facebook settles anew in negative zone - Analysis - 13-08-2018

Facebook's stock settled below 183.82 in the intraday levels, a level that represents the ratio 50% of Fibonacci retracement levels for an ascending wave in the short term (from 149.02 to 218.62), recording thereafter a loss of 1.55% in the last session, or 2.83 points, amid negative pressure from the 50-day SMA, while countered with positive signals from the Relative Strength Index. 

Therefore we expect more losses for the stock, as long as it settles below 183.82, targeting the next support at 175.61, which represents the ratio 61.8% of the same retracement levels.