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Facebook, Inc. (FB) Message Board

  • bryanleighton bryanleighton Aug 5, 2013 2:38 PM Flag

    Facebook Top: Where To Short The Stock

    Facebook Inc (FB) has surged 50% since it reported earnings just two weeks ago. It was trading at $26.50 prior to earnings and hit a high today of $39.32. The stock is currently trading at $39.06, +1.01 (2.65%) on the day. Facebook has taken out the IPO price of $38.00 and many are wondering where it is headed next. The answer, based off the chart is simple. The all-time high of $42.00 is the short level for this high flier. This will also give the company an approximate market cap of $100 billion Dollars. This will be a huge resistance point. A pull back would be expected back to the $38.00 which would be an approximate 10% profit.

    Gareth Soloway

    Sentiment: Sell

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    • I would say shorting anywhere between $42-$45 would give you a predictable 10-12% profit within 2 weeks. That being said, $40 is a nice big round number and I could see that as the high as well. In any case, we'll see a big run up into earnings this coming Q based on last Q's reaction so don't expect to hold the short position very long. (and I'm Long and still saying this.)

      Sentiment: Strong Buy

 
FB
80.54+0.06(+0.07%)May 22 3:59 PMEDT