Facebook retests current resistance - Analysis - 20-09-2018

Facebook's stock rose in the intraday levels, with positive signals from the Relative Strength Index, retesting the resistance of 166.09, which represents the ratio 50% of Fibonacci retracement levels for an ascending wave in the medium term (from 113.55 to 218.62), countered with negative pressure from the 50-day SMA. 

Therefore we expect the stock to return lower, as long as it settles below 166.09, targeting the next support at 153.69, which represents the ratio 61.8% of the same retracement levels. 

Expected trend for today: Likely Bearish