Facebook (NASDAQ:FB) has had a rocky relationship with investors this year. If you’re someone who likes FB stock, be prepared for some temporary setbacks before making the most of that friendship. Let me explain.

From “fake news” scandals to security breaches of users’ personal information and slowing growth, 2018 has been a much more challenging time to own or buy FB stock. But don’t take my word for it, just take a look at Facebook’s volatile price chart.

During the good times, and there have been some of those this year, shares of Facebook managed to hit new highs. At its peak FB stock was even up nearly 25% from the low that preceded it. However, FB has also faced two major corrections and dropped as much as 42% from July’s all-time-high.

The other bad news is the bears are still in control of the stock. FB remains a troubling 35% from its high of $218.62 and is steeped in a downtrend on the weekly price chart. That same price action has also set shares back more than 20% in 2018. Still, there are signs the bears’ days could be numbered.

FB finally saw some bullish sentiment Monday following an upbeat analyst note from Deutsche Bank, and Facebook announcing a $9 billion buyback plan on top of last year’s $15 billion repurchase agreement.

The combined news was enough to send FB stock jump more than 3%. Sure, some might argue the social media giant could be putting even more of its cash hoard towards ensuring setbacks like 2018 don’t become repeat performances. But if you’re like me and believe in the words ‘for better or for worse’ has now sufficiently tested FB stock bulls commitment this year, it’s time to put shares on the radar for buying.

FB Stock Weekly Chart

As noted above, a longstanding and friendly trend of more than five years in FB stock has been replaced with price action in 2018 where timing has meant everything. Right now, Facebook deserves a spot on the watch list. But don’t buy shares just yet.

The fact of the matter is FB stock’s recent price action has shares challenging channel resistance and the level from its 2012 low which failed to act as double-bottom support last month. All told, it’s enough to give pause to buying Facebook.

Furthermore, as today’s testing is within the framework of a three to four week-long bearish flag pattern, the decision to watch, rather than purchase FB stock, makes sense. That all being said, I do see shares as near the end of their corrective phase.

I’ll be watching for some variation of a weekly chart double bottom to form, relative to the November low, over the next couple to few weeks. If it does, FB will be in a much stronger technical position for buying than at today’s prices.

Alternatively, if Facebook does manage to overcome resistance and breakout, I’d look to buy shares on a higher-low pattern after hitting relative highs. That could signal a new bullish intermediate trend is emerging. And in our view that’s a much stronger proposition than buying into a riskier oversold V-bottom pattern whose best days have likely passed for the foreseeable future.

Disclosure: Investment accounts under Christopher Tyler’s management do not currently own positions in any securities mentioned in this article. The information offered is based upon Christopher Tyler’s observations and strictly intended for educational purposes only; the use of which is the responsibility of the individual. For additional options-based strategies, related musings or to ask a question, you can find and follow Chris on Twitter @Options_CAT and StockTwits.