Facebook Stock Breaks Resistance, Makes New All-Time High

Since the end of April, the $330 level has been resistance for Facebook, Inc. FB. This means there has been a large group of sellers offering shares at that price. There’s been more than enough supply to satisfy all of the demand.

This is why each time the shares reached $330, they backed off. The sellers put a top on the price. Monday morning, however, shares broke through this resistance and are trading at an all-time high. This could mean the sellers are finally finished selling.

With this supply of shares out of the way, the bulls will need to pay higher prices and a new uptrend could be forming.

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