In the FANG world, Facebook (FB) - Get Report is shaping up as the weakest link. The stock suffered a severe breakdown as this week began but has steadily rebounded. Despite the recovery, FB remains under intense overhead pressure and continues to look vulnerable. Patient investors will likely see lower entry opportunities in the near term.

Facebook has gone nowhere since its huge earnings-powered breakout on July 27. The stock has been consolidating above support while giving back very little of its massive 2017 gains. This healthy pattern was damaged in a big way on Monday. FB took out layers of support, including the July 27 breakout gap, which held the August low, on the second-heaviest downside trade of the year.

Facebook (FB) - Get Report -- Moving Averages

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A deeper selloff is looking more likely now. I believe another close below the $165 area will signal the recent lift has lost momentum. FB could return to major support in the aftermath. This key area includes the multiweek June highs as well as the huge July 12 breakout.

For patient investors, a dip down to the $157 to $155 area will provide a much lower-risk entry opportunity than currently available.

This commentary originally appeared on Real Money Pro on Sept. 28. Click here to learn about this dynamic market information service for active traders.

Facebook is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells FB? Learn more now.

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Editors' pick: Originally published Sept. 28.

At the time of publication, Morrow was long FB, although positions may change at any time.

Action Alerts PLUS, which Cramer manages as a charitable trust, is long FB.