The fall has happened earlier
The vast majority of people notice that there is something wrong with stocks only right after such news is announced on the market. However, anyone who looks at the chart properly will notice that Facebook had its peak on 1.9.2021 . Until then, it went into correction. The key date here, however, is 17.09.21 . That is because on that day Facebook fell through the trend. Therefore, the outage has only deepened the stock market crash.
From this, we can deduce that the collapse of Facebook’s stocks occurred before the outage itself. And so the outage of Facebook was just fuel, which was poured into the metaphorical fire. As the first support, where the whole slump could stop, I would see the level of 395 – 304 USD per share. We are currently at $ 333 . Overall, this is a -15% decrease from the top, which is good, but definitely not good enough.
The overall trend
As for the overall trend, Facebook looks similar to the S&P500 or NASDAQ indices. Where we have seen rapid growth in recent months. The price is currently testing this basic trend on a weekly chart. It is therefore logical that a reaction occurred in these places. I think a rebound might come here, but it will be rather short-lived than long-lasting. As with the indices, I expect the price to drop through the trend.
The analysis clearly shows that Facebook’s stock price began to fall long before the recent outage. Overall, we now see declines and uncertainties in the stock world. Prices have been rising for a long time and a deeper correction hangs in the air, threatening stocks and indices.