FB is the only company that can be the next GOOG AMZN or AAPL.
The business model may not be fully proven, but FB is about to explode. LNKD shows that the model is very plausible, and that investors believe in it.
When does FB get back to IPO price? I say Feb 14, 2013.
Sentiment: Strong Buy
For your information, the cup & handle went out 12 years ago. IBD still touts it but thats all they have...nothing new!
IBD is a historical paper with nothing but history. Appeals to accountants & historians. NOT INVESTORS!
I bet you still think buy & hold is a great strategy. Also went out 12 years ago. Times have changed or have you not noticed?
"For your information, the cup & handle went out 12 years ago. IBD still touts it but thats all they have...nothing new!"
That's because cup and handle is most powerful chart!
I just watched the CNBC video and checked out the chart again. I can see why it looks like a cup and handle pattern but the "rounded bottom" that the cup is supposed to have looks pretty bumpy to me. I know patterns are rarely perfectly shaped but is this case acceptable? I'm pretty new to reading chart patterns so I guess this is more of a general knowledge question for me and anyone else interested here. I'm rooting for FB either way. Good luck!
You are right there is no volume. Where is the confirmation? There wasn't an increase of volume on the low trigger either. Based on the cup and handle, it broke out convincingly as the resistance should be just a little bit above 28. Will we see a big gap on Monday? This is our buy point right?
I'm not buying but maybe ill just miss out.
There is no cup and handle pattern. If someone said it on CNBC, they do not know how to trade. It needs to test a resistance and 28 is not a resistance but a baseline and 33 would be the resistance it needed to test to form a pattern that would resemble a cup and handle. The bottom of the cup is not round and there is no winding and no volume in the handle.
We will see if FB hits its ipo price after it announces. It will need to report around 18 or 19 cents to reach its ipo price.