The shares of Facebook are in a strong uptrend . At the beginning of November we managed to establish another historical level price around $ 110 per share . After such a strong movements we have to see correction and now we can see it. The course yesterday stopped on support in the area of 101,50 USD per share. In this point we can see also Fibonacci 38.2 %. Also on the daily chart we can note Pin Bar formation, who heralds the end of correction. If the market will cross this level we can see another strong support at around $ 99, where turn 50 % recent increases . Then we should return to the upward movement.
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For further increases prevails very good company results for the third quarter . Both earnings per share (EPS) , and revenues were better than market forecasts . EPS was better than forecasts $ 0.05 and amounted was 0,57USD . Revenues totaled $ 4.5 billion , and was better 40% compared with the previous year .