Resilient FB Facing Strong Resistance

FB-- has withstood all sorts of negative news, analysis, and knee jerk selling pressure during the past 48 hours, which triggered a plunge from 165 to 160, where it held, and has since turned up to 164.79 so far.

Even Cramer's criticism during his pre-market analysis could not keep FB down, which suggests to me that indeed, FB has reached downside exhaustion in the aftermath of its major correction from 219.00 (2/19/18) to 158.25 (9/18/18).

That said, however, let's notice on my attached 4 hour chart that FB has powerful and consequential resistance from 166.40 up through 1687.25, which needs to be hurdled and sustained for the recovery rally to gain additional potent upside traction that will point to a 180 area target thereafter. Last is 164.65/70... Our Model Portfolio is long FB at 166.02 from 9/20/18

9 25 18 FB 1115 GIF
9 25 18 FB 1115 GIF

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