Gaps on either side now of yesterday’s candle for Facebook, looking at the daily chart, below. The stock is still in a downtrend over the past several weeks, which means even if the stock has truly bottomed you can still expect whipsaws. Nonetheless, this type of price action often indicates that the market is rejecting the idea of an imminent leg lower–Essentially stating that yesterday gap lower was a aberration.
The flurry of upgrades today is sure to get most of the attention here. But this candlestick setup is a good start for Facebook bulls, with $24 likely needing to hold as support now.
Below the chart, source.
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FB sucks. Kids are leaving. Their model is ads and people tend to ignore those. They’ll be around but the best days are behind it.
With all the social media tools, the people who seem to do the best are those who stick to the basics.
Love your posts Chess. You blog often on this platform and you create and entertain an audience. You don’t repurpose your posts on 50 social sites.
Keep up the great work!