Facebook just sent a bearish signal and could initiate a downward tendency.

Regarding fundamentals, Facebook has been recently downgraded by analysts concerning the expected EPS for 2014 and 2015. This situation often result by a price decrease.

From a technical viewpoint shares were supported by a strong upward trend, but it has been recently brokedown. This kind of signal is often a strong one and that's why we can expect the beginning of an downward movement. Moreover the 20-day moving average has recently crossed the 50-day moving average which legitimate a downward potential. The first target will be the short term pivot point at USD 68.05.

Active investors can open a short position at current price and target the short term pivot point at USD 68.05. A stop loss should be placed below the USD 76 area.