If the Head & Shoulders pattern had completed the stock would have retraced down to $24 last week. It did not.
Thus, there is a good chance we are in the midst of a handle with consolidation with speculators ready to buy into earnings.
Today's after hours activity bodes very well, and supports my contention and early posts that there is support above $26, and that we will likely not see $25 again unless FB misses earnings. This seems very unlikely given the terrible guidance and very low expectations.
If they beat with 14 cents, I think we get back to $30, or even higher. Depends completely on how FB handles the phone call guidance. If they stick with their scare tactics, and awful guidance, stock drops back to $25.50.
Let's face it, until investors flood FB with phone calls and complaint emails to Deb Crawford, FB could care less about the retail investors who are waiting out the stock.
I am hoping for a nice move up on monday.. chart says it reached it bottom...I am certainly not scared of a lower entry point for more shares... this is opportunity to get in on the next leg up to the 33 to 35 range then sell off to the mid 28's . then by the end of the year it will go higher than the IPO price and break out from there to the upside......PATIENCE WILL BE THE REWARD HERE...