By Tim - http://stockstobuy.org - Twitter - @stockstobuyFacebook (FB) Stock Chart - The following is technical analysis on Facebook (FB) - May 29, 2012
Facebook (FB) Support & Resistance Levels - 5/29/12
Resistance Levels: $32.95, $33.59
Support Levels: $30.50, $30
Chart - http://www.stockcharts.com
Facebook (FB) broke down again on Friday after another failed rally attempt. FB stock could not break above $33.59 resistance and ended up putting in another short term top located at $32.95. Facebook (FB) will now need to hold $30.94 and judging the pre market trading quote this morning ( $31.10 ) we could be getting ready for another sell off. If FB breaks $30, I could it dropping to $28 before people buy the stock again. However, as soon as Facebook (FB) breaks above $32.95, I think you will see some major buy interest.
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