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Facebook (FB) - Get Meta Platforms Inc. Class A Report stock is treading water Monday, down just 0.38% to $183.48 despite continuous negative headlines.

The company faces plenty of government scrutiny and has been absorbing political jabs left and right. As the pre-election rhetoric ramps up, these jabs will likely increase as well.

Over the weekend, reports surfaced that Facebook's video viewership numbers have been inflated. It's just another stain on the Facebook brand.

Surprisingly, though, shares are holding up pretty well on Monday, particularly given that the broader market isn't exactly robust on the day. Does that mean Facebook stock could have more upside? After all, holding up and trading higher despite negative news is usually a bullish sign.

Meanwhile, Facebook is facing some overhead resistance, while critical support continues to hold. Let's take a closer look at both levels.

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Daily chart of Facebook stock.

For the stock, a few observations are immediately present. First, shares continue to put in a series of lower highs, highlighted via the downtrend line on the chart above (blue line). That's a bearish technical development as rallies in FB stock fizzle out quicker and quicker.

Next, it's apparent that the $175 level has been notable support. While this area was resistance in February and March, it's been support since August. Just above rests the 61.8% retracement near $176 and the 200-day moving average at $177.

Shares are now struggling with downtrend resistance and the 50-day moving average. Take a second and look at the role the 50-day has been playing over the past year.

From here, we can map out the levels for FB stock, starting with downtrend resistance and the 50-day. Over these marks puts the 78.6% retracement near $190 in play. Above that and $200 could be within reach.

Should downtrend resistance and the 50-day hold as resistance, another test of the 200-day and $175 could be in store. Below that and a test of the 50% retracement near $165 is possible, with range support at $160 just below that.

Wait to see what happens in FB stock, then react to the move.

This article is commentary by an independent contributor. At the time of publication, the author had no positions in the stocks mentioned.