Are Social Media Stocks/ETF About To Get Destroyed?

Let’s take a quick look at two charts. Facebook (FB) and Twitter (TWTR).This is rather simple. Fundamentaly speaking, both companies are massively overpriced. Technically, Twitter is on the verge of breaking below a massive muti-year rising wedge.

Should it do so, I wouldn’t be surprised to see Twitter below $15 a share over the next 12-18 months. Facebook is about to break below a major/important support level. The problem is, Facebook has massive gaps all the way down to $20 a share. Gaps that must be closed sooner or later. That is not a good sign.

Hmm, I wonder what happens next.