Facebook Inc (US: FB) Upside has stopped out based on our report dated 27^th September 2021. The rebounding from support zone 2 came earlier than expected but despite a show of bullish technical signal, we remain caution about the potential upside as wave theory suggest that we are still in the midst of corrective wave formation. :

1. The formation of the bullish hammer above the support zone 2 at US$313.79-US$319.59 is an indication of a bullish reversal.
2. Stochastic Oscillator is showing an oversold crossover signal and likely, we are seeing upside rebound to form the 2^nd leg of corrective wave B.
3. Longer-term view, should support turned resistance 1 at US$333-US$340 is not broken, then the next rebound will likely be at US$300.00

*Expected timeline of the trade is 5 weeks from the date of report issuance.

* Ichimoku is still showing downtrend and by anticipating a reversal, there is a larger risk of continuing downtrend.

CHART LEGEND

Ichimoku Kinko Hyo

Red dotted line = 26 periods Kijun-Sen

Blue dotted line = 9 Periods Tenkan-Sen

Green Line B= 52 periods Senkou Span B

Pink Line A = 26 periods Senkou Span A

Black line = 26 periods Chikou Span. Lagging line