Will GOOGL And FB Stock Rebound Or Break Down?
In the stock market, certain price levels are more important than others. And shares of both Alphabet Inc. (NASDAQ:GOOGL) and Facebook, Inc. (NASDAQ:FB) have each reached critical levels. Its unlikely that the stocks will stay close to these levels for long. Stocks usually dont spend too much time trading at important levels. They typically break down or rebound when they reach them. For GOOGL, the $2,390 level is important. It was resistance in late April and late May. Now it may become a support level. If it does, it will set the stage for a rebound. But if it doesnt, GOOGL could make a big move lower. The important level for FB is $330. It was resistance, and now its support. If it breaks FB could start to trend lower. But if it holds there could be some type of rebound.