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Facebook stock price ended on $343.21 on Wednesday after losing 3.99%

StockInvest.us, 1 month ago

Facebook

The Facebook stock price fell by -3.99% on the last day (Wednesday, 22nd Sep 2021) from $357.48 to $343.21. During the day the stock fluctuated 2.69% from a day low at $340.69 to a day high of $349.84. The price has fallen in 6 of the last 10 days and is down by -9.1% for this period. Volume has increased on the last day by 31 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 43 million shares were bought and sold for approximately $14.81 billion.

On September 17, 2021 "Jefferies Financial Group" gave "$425.00 - $440.00" rating for FB. The price target was changed from $373.06 to 0.2%.

Given the current short-term trend, the stock is expected to rise 7.87% during the next 3 months and, with a 90% probability hold a price between $370.22 and $417.58 at the end of this 3-month period.

Facebook

There are few to no technical positive signals at the moment. The Facebook stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $363.52 and $367.27. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, September 07, 2021, and so far it has fallen -10.20%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 months Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Facebook finds support from accumulated volume at $341.37 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $9.15 (2.69%) between high and low. For the last week, the stock has had a daily average volatility of 2.20%.

Facebook is oversold on RSI14 (17). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

The Facebook stock holds several negative signals and despite the positive trend, we believe Facebook will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Check full Facebook forecast and analysis here.