Is Facebook's Stock About To Drop?
Shares of Facebook, Inc. (NASDAQ:FB) are sitting on an important support level. Theres a chance they stage some type of rebound, but if the support breaks, they could go into a steep decline. What To Know: Support is a large concentration of buyers who are looking to pay the same price for shares. In this case, it's $330. At support levels, there is more demand for the stock than there is supply. This is why sell-offs end when they reach them. But when a support level breaks, it means the buyers who created the support have finished or canceled their orders. Either way, they have left the market. With this demand out of the way, sellers will be forced to accept lower prices for their shares. This could cause a downtrend to form. See Also: How To Buy Facebook Stock