FB breaks its 50-day average as traders increasingly unlike Face

Upward momentum in FB shares has been slowing for the last two months but it now appears that a downturn may be starting. The shared broke down below their 50-day average near #$168.95 on increased volume, signalling the start of a new downturn. Today, the shares have been unable to retake $165.00 a round number, establishing a previous support as new resistance and confirming the breakdown. Next potential downside tests appear between $160.00 and $162.00 where a round number, uptrend support line and 23% retracement all converge, followed by a previous low near $158.55 and the 38% retracement near $151.95.