$FB = Weekly Analysis = 22.10.2021 #FB #Facebook #Investing #faang

I have a strange feeling that the quarterly candle was right about $FB fate. The monstrous Hammer fully outside of BB was a canary in the coal mine. A good chance FB goes further down.

All these concerns were discussed in the quarterly analysis – link below.


The quarterly candle formation is extremely strong bearish. A bearish Hammer/Harami/Spinning Top all in one. And this bear darling closed above BB in oversold condition.
There is a tiny chance that this candle is canceled by bulls in the next 3 months, but in this case it will just exaggerate the technical conditions. E.g. the price will move above BB even further – a following reversal would be even stronger.
Odds: Strong Bearish

FB closed September with a strong bearish Engulfing on a falling RSI and strong volume. At least one month of lower prices was expected and it looks like FB won’t disappoint the bears in October. The odds of a multi-month correction are also very high.
Odds: Strong Bearish

At the beginning of the week, there were signs of a rally. However, on October 22, FB closed with a strong Hammer. Note the 8/20 weekly EMA cross, the falling MACD, RSI and other indicators.
Odds: Strong Bearish

It looked like FB attempted a rally this week, but formed a clear bearish Island instead. Technical indicators on the bears side. The 50/100 DMA cross is just 3 points away. The price is below 8 EMA and looks ready to move below 200 DMA.
Odds: Bearish

Summary: The odds are bearish on all frames. The next week is likely be red. If it happens, expect the domino effect, as the monthly candle will be a big red one either.
It looks like it will be an interesting week for FB.

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