Meta PlatformsPanjang
FB Breaking Out
Shares of FB have broken out. Last week, they took out the previous high of $195.32 and then successfully retested the level the following day. Today, bulls continue to validate the breakout, with shares flirting with the $200 level.
I expect continued strength in the name, as valuations are reasonable and fundamentals remain strong. Given the lagging performance relative to other tech names, there may also be a catch-up rally in the cards.
Upside targets, based on Fibonacci extensions, are $208, $214, and $224.
I'm long shares (have been since the I.P.O.), and I also bought July 20 $205 calls near last Friday's close. Seems like a picture perfect breakout!
I expect continued strength in the name, as valuations are reasonable and fundamentals remain strong. Given the lagging performance relative to other tech names, there may also be a catch-up rally in the cards.
Upside targets, based on Fibonacci extensions, are $208, $214, and $224.
I'm long shares (have been since the I.P.O.), and I also bought July 20 $205 calls near last Friday's close. Seems like a picture perfect breakout!
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.