Facebook intraday: the RSI is oversold

Trading Central 2021-01-13 04:51:07

Our pivot point stands at 248.33.

Our preference: short term rebound towards 257.6.

Alternative scenario: the downside breakout of 248.33 would call for 244.89 and 242.85.

Comment: the RSI is trading below 30. This could mean that either prices are in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is above its signal line and negative. The configuration is mixed. Facebook is trading under both its 20 and 50 period moving average (respectively at 254.49 and 261.01).

Supports and resistances:

261.69 **

259.65 *

257.6 **

255.55

251.04 last

249.68

248.33 **

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