Facebook (FB)

by | Oct 5, 2021 | Daily Trade Alerts

Thanks to outages, Facebook (FB) plunged about 5%, or $16.78 on Monday.

Fortunately, hours after the social networking site went dark, everything is returning to normal.

Santosh Janardhan, VP of infrastructure, as quoted by CNN noted, “Our engineering teams have learned that configuration changes on the backbone routers that coordinate network traffic between our data centers caused issues that interrupted this communication. This disruption to network traffic had a cascading effect on the way our data centers communicate, bringing our services to a halt.”

With a bit of normalcy returning to Facebook, the oversold stock is beginning to bounce back. Sitting at double bottom support dating back to June 2021, RSI, MACD, and Williams’ %R are all deep in oversold territory.

With patience, we’d like to see a bearish gap refill around $340 from a current price of $326.

Former Tech Executive: “A New Crisis is Brewing”

Jeff Brown called Bitcoin when it was just $240—giving his readers a chance at 270 times their money. He picked Tesla in 2018—before it soared over 1,400%. He called the #1 returning tech stock of 2016, 2018, 2019, and 2020.

But he’s no stranger to disaster… His firm also predicted the dot-com crash in 2000 and the housing bubble in 2008.

And now, he’s come forward to warn of a disturbing new trend… something that he calls a “Tech Shock.” An event which could derail the post COVID recovery—and send the NASDAQ and high-flying tech stocks into a tailspin.

Click to Hear His New Warning

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