Investing.com investing.com 13 Jan, 2021 19:00 am

Chart Of The Day: Facebook Woes Predated Trump Ban, Will Continue Beyond It

Chart Of The Day: Facebook Woes Predated Trump Ban, Will Continue Beyond It
Stocks Analysis by Investing.com (Pinchas Cohen/Investing.com) covering: Facebook Inc. Read Investing.com (Pinchas Cohen/Investing.com)'s latest article on Investing.com

Volume on the stock has been slumping, contrary to the rising price between Sept.23, falling as the price rises and rising as the price falls—signaling the direction in which the money will be heading.Conservative traders should wait for the price to register a second, lower trough, then rally in correction and confirm the downtrend with resistance.Moderate traders would wait for the new low, then for the same corrective rise, for a better entry, not necessarily for confirmation.

The indicator registered a second, lower trough, establishing a medium-term downtrend.Yesterday, we posted a bullish call on Twitter shares, despite the selloff sparked by the social media company permanently banning US President Donald Trump from their platform.

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