FB at Critical levels hereFB is sitting at a very crucial level here. After dropping about 15% from ATH levels, it just had one of its biggest drops of the downtrend so far. Because of the news that Trump Media and Digital World Acquisition Group are merging, this will be another competitor to FB and Twitter, no matter what people think. This will take some market share away from the big social media giants, and this has reflected in the FB and Twitter share prices in the last couple days.
Personally, I believe FB will use its recent acquisitions, and massive market share to blow past this minor dent and will create its own monopoly again on the social media world.
We have seen cases like in China, where WeChat runs the entire country and all transactions, pretty much, are done through the WeChat platform.
With FB trying to monopolize, and creating its own cryptocurrency, or token, we can maybe see the beginning of a new era with FB.
Things to note:
Earnings: FB announces earning on the 25th, and we can expect this to make or break the stock.
$300 is a critical level, and if FB breaks down, we could see a retest of the lows where Trump was banned from FB, and Twitter.
Buying shares at this level, and will average down if a breakdown does occur, but I do not see FB dying lower than $300, and if it does, we will see a nice long bounce up to original levels.
Short term: could be bearish, and could see even lower lows until a reversal occurs
Long term: Bullish and I think this is a good price to get started in FB shares long term.
