Facebook is on track to post its longest losing streak ever and some say theres more pain ahead

(CNBC) Facebook is facing a mountain of problems. The social media giants stock fell nearly 5 percent on Monday hitting its lowest level since February 2017 as the social media company came under fire after a damaging report about its top management in The New York Times. Facebook is poised to close its third straight month in the red which would mark its longest monthly losing streak on record. Furthermore Facebook is on track for its longest quarterly losing streak since 2013 and its first full year of losses since going public. According to some experts the stock isnt done falling. Technically when I look at this theres no question that weve violated the long-term uptrend support line off of the 2014 lows. Weve got some support thats going to come in right around $130 but better support coming in at $114 Craig Johnson chief market technician at Piper Jaffray said Friday on CNBCs Trading Nation adding that he would stay on the sidelines here rather than putting fresh money to work or further reduce positions on it at this point. Read More