Facebook In Danger Of Ending Three-Day Winning Streak
Facebook Inc (NASDAQ: FB) shares are trading lower by $0.88 at $114.21 in Tuesday's session. Since it blew away Q4 estimates last Wednesday, the issue has added over $20 since its January 27 close of $94.45.
Earlier in the session, it easily surpassed its former all-time high of $115.72, reaching $117.59 before reversing course. So far, the ensuing decline has taken the issue to $113.84 and continues to make new lows for the day.
If the decline continues, the next support level based on the daily charts may not come in until Monday's low of $112.01.
In order to post a new all-time closing high, it would need to exceed Monday's close of $115.01.
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