Facebook shares were rallying Monday, despite a sell-off that blasted the broader markets.
The stock was up 2 percent in afternoon trading, and one top technician said the charts point to even stronger gains on the horizon as the tech giant continues its monster 2019 rally.
Facebook has climbed more than 25 percent this year, and even though it has underperformed over the past month, Carter Worth, chief market technician at Cornerstone Macro, said now is a great time to buy the dip if you don't want to get left out of the rally.
"I think there's an opportunity just as a catch-up trade," Worth said Friday on CNBC's "Options Action."
He added that, despite undercutting its October lows on Christmas Eve, the stock actually outperformed the S&P 500 on that day — and ever since.
"If you zero in on that, what we know is that the stock makes a new low. It undercuts its October low, but that is not the case on a relative basis, which is to say that even as it was selling off, it was actually outperforming the S&P, and that sets up what has been since, not only an absolute winner but a relative winner, and I think that's part of the opportunity," he said.
Worth went on to point out a volume-driven breakout integral to the stock's rise at the end of January when Facebook reported earnings.