FB expected to follow same pattern as TWTR and Netflix
FB came out with great results yesterday beating earnings and revenue expectations. It is trading at +7% in pre-market or around 171 level.
Last week or so, Twitter and Netflix came out with great results as well. Mind you, the same type of investors like to invest in all 3 of these companies.
Twitter and Netflix reached their maximum on the day of earnings report and have been declining ever since, Netflix completely erasing gains since the results.
Based on behavior of these investors I expect the same scenario with FB, today being the peak day, maybe reaching 176, followed by steady decline over next 10 trading days to below 155 again.
I will close my position today at around 175 and will wait on the sides for better entry point, as we are still above the historical trend-line which we haven't touched recently.
Last week or so, Twitter and Netflix came out with great results as well. Mind you, the same type of investors like to invest in all 3 of these companies.
Twitter and Netflix reached their maximum on the day of earnings report and have been declining ever since, Netflix completely erasing gains since the results.
Based on behavior of these investors I expect the same scenario with FB, today being the peak day, maybe reaching 176, followed by steady decline over next 10 trading days to below 155 again.
I will close my position today at around 175 and will wait on the sides for better entry point, as we are still above the historical trend-line which we haven't touched recently.
Dagangan ditutup: sasaran tercapai:
TP: 175 hit nicely today, will wait at the sidelines for it to reach 155 in May to re-enter.