Shares of Facebook (FB) - Get Report have been struggling since reporting earnings more than a month ago. However, the stock has started to show signs of promise over the past few trading sessions.

While Facebook stock is down 1% Tuesday to $183.73, shares are still holding up over a key resistance mark that's been in place since mid-July. Further, it's holding up over key support as well.

It's been a long road for FB stock to get back to these levels. After a largely disappointing quarter 13 months ago, Facebook stock found itself in the dog house. No one wanted to touch this name, even if it was the premier social media stock.

Now shares are on the road to recovery -- albeit, a rocky one. While Facebook stock is up 40% so far in 2019, it's lagging the gains of both Twitter (TWTR) - Get Report and Snap (SNAP) - Get Report , which are up 47% and 186%, respectively. Facebook also lags its competitors over the trailing 12 months, up just 4.5% over that time.

In any regard, many investors are growing impatient by the tired price action in Facebook. What are the must-know levels going forward?

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Trading Facebook Stock

Daily chart of Facebook stock.

There are a few things to key in on when it comes to the Facebook stock chart. The setup doesn't scream bullish or bearish, but it does tip more to the former than it does the latter.

While the charts favor the bulls, it's not by unanimous decision. Meaning that a sustained breakdown in the overall market or escalating selling pressure in Facebook stock could be enough to turn the tables.

The key right now? The $180 level.

This mark has played a role dating back to April, when it was resistance for much of the month. Since then, it has played a continued role as well, most recently acting as support. Despite downtrend resistance continually forcing FB stock into a series of lower highs and squeezing the stock against this level, it held firm.

Eventually, downtrend resistance gave way, with Facebook stock rallying into the mid-$180s. Now, the stock is struggling with the 20-day moving average, but importantly, staying above $180 support and prior downtrend resistance.

So what now?

Here's the bottom line: FB stock must stay above $180 to keep the bull case intact. Below opens it up to the 38.2% retracement near $176 and the 200-day moving average at $170.50.

If Facebook stock can maintain above $180 and reclaim the 20-day moving average, a rally to the 50-day moving average at $191.70 and potentially $195 is on the table. Above $195, and $205 is possible, with the 2019 highs just beyond that.

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