Facebook’s stock is holding its post-earnigns gap, and then some.
On the updated daily chart, below, you can see the light blue line represents the IPO at $38, which is now quite obvious overhead supply (resistance) to clear.
If there is going to be a gap-flll lower I do not think it can even be seriously considered until we see a close below $36. For now, the stock is acting like it wants to be a new leader, as you can see the longer-term moving averages, below, now torque higher.
On the graph above (via Mashable and Statista), note the way in which Facebook continues to dominate among young users. I expect Twitter to enjoy growth and probably eat into Facebook’s market share in the coming years.
However, is Facebook’s stock can clear $38 with force it is hard to argue against it being a social leader.
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Hi Chess, are you quietly building up some hedge, like TZA, here ? I just checked the historical chart on RC’s site. If you do, which instrument you choose? Thanks always.
Depends on the type of market, I can target individual stocks or use instruments like that. I will say that TZA is a very risky, levered instrument, so be careful holding it for more than a quick flip–Know your risk tolerance. All of my trades are posted inside 12631.
Thanks! I’m thinking SH.
Yes, teens have a FB account, but they stopped using them. They twitter and instagram, oovoo all day long.