I have no love for anything related to Facebook even though the majority have been pushing the stock higher. FB has now started to back off in price gains as the problems with FB are too many to address.
If it wasn’t for all the GAPs in the FB chart I would not post anything, but this chart looks like Swiss Cheese with any GAP always having a 90% chance of getting filled. The July 2018 GAP might never get closed no matter how much the Facebook bulls wish for it to happen.
In November/December 2018 we had a small double bottom followed by a big bounce that may all be just a big bear market rally. In order for this 2019 rally to be part of a bear market rally then eventually, FB has to crash below the 2018 low at the $123 price level.
I don’t have much of a Gold/FB ratio database set up but today we are sitting at about 6.84:1.