We have already mentioned this in the morning when we have seen Facebook shares plummeting to over 20% during pre-market trading.
Now that the normal hour trading has commenced, the bad performance was confirmed. This may be considered one of the worst, if not the worst, daily declines in the history of this stock since its launch in 2012
At these levels is it a good opportunity to buy?
From a fundamental perspective, Facebook remains the firm with the highest margins in the world with a great capacity to anticipate times.
From a technical perspective, the stock now finds itself on a very important support level that, in a good probability, will not be violated.
Today it will be very interesting to look at the closing price and this is because if it closes above the support line (indicated as the blue horizontal trend line on the chart), this will provide confirmation of the trend we have been facing during the last period.
I think that at these levels, Facebook represents a good opportunity to purchase!