This morning, the leading social networking stock in the world Facebook Inc (NASDAQ:FB) is coming under selling pressure again. This stock has been selling off since May 3, 2013, when it traded as high as $29.07 a share. Today, FB is trading lower by 0.38 cents to $25.87 a share. With this action in the stock price comes trading opportunity; swing traders should watch for some near term support on the Daily time frame chart around the $25.00 area. Short term day traders should also watch for intra-day support around the $25.80, and $25.32 levels. Both areas should provide for a bounce in the stock price.
Some other leading social networking stocks that have been weak lately include LinkedIn Corp (NYSE:LNKD), Renren Inc (NYSE:RENN), and United Online Inc (NASDAQ:UNTD). Today, all of these social media and networking stocks are trading higher with the exception of Facebook Inc which continues to lag the industry group.