This is a technical point of view. Your support level is 23.94 (the 50 day moving avarage). the stock is trending down and it is not over sold or over bought. My openion is to wait and see if it break the support leven on the down side. I own some facebook but I sold most of my holding @ 27.20 (yesterday) and I am waiting for a buy signal from (MACD chart) to get back in. that could be around 23 to 23.25 for a rebound before the eranings. I hope that help
Technical anaylsis, in the face of one of the most unique growth stocks in history, most disappointing IPOs, along with the setting of what is now also the most acrimonious congressional fiscal crisis in 150 years, simply cannot be completely relied upon at this point.
I posted that Zuck clearly felt that $18 was the psychological floor some months back and clearly intervened directly telling everyone to double down on the stock. Zuck was not going to allow the stock to stay below $18. He was right when he said the stock would soon rebound. Since he is not going to sell until September, the stock is probably a good risk at any price right now.
The value of the stock seems to be $18 - $27, and it was $29 priced internally. But it was valued at $30 - $40 on the secondary markets, and secondary market purchasers who own at least a decent amount of the float will not sell their shares under $30 due to the vast speculative potential. Psychologically, the stock is now very unlikely to ever sell below $26 as so much bad news is baked in already. The only thing dragging the stock down now is the end of year fiscal cliff debacle.
Even if we go off the cliff, selling FB below $26 seems foolhardy since the stock is very likely to rebound to $32 if FB meets revenue expectations in just a few weeks. Almost all the FB bears have now reversed course, and FB is probably a good speculative buy at any price until we resolve the cliff issue.