Meta PlatformsLong
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!
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.