Facebook tries to recoup some losses - Analysis - 17-10-2018

Facebook's stock spiked 3.43% in the last session, or 5.26 points, after the important support of 153.60 held its ground, representing the ratio 61.8% of Fibonacci retracement levels for an ascending wave in the medium term (from 113.55 to 218.62), with positive signals from the RSI, countered with negative pressure from the 50-day SMA. 

Therefore we reaffirm our negative outlook for the stock, especially if it settled back below 153.60, targeting the next support at 138.35, representing the ratio 76.4% of the same retracement levels. 

Expected trend for today: Likely Bearish