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  • noexcept4 noexcept4 Dec 3, 2012 6:09 PM Flag

    Bearish engulfment - pullback starting!

    if it can stay over $28 this week.. will go much higher.. if it closes below $27 could drop to $26 and change

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    • how did you come to these conclusions?

      • 1 Reply to ohze100
      • I don't understand the question. The reasoning behind my calls was included in my post, with the exception of the statement that based on fundamentals I'd expect a parabolic curve burst. That's due to the fact that FB is significantly overvalued relative to its growth potential, and it's surging on momo, cachet, and hype. I don't think it's actually worth more than 15; anywhere above that it's a risky speculative play. Or, for my ilk, a nice volatile trading stock.

        I'll add that I do find it more likely than not that the uptrend isn't over yet. Long term, fundamentals govern the direction, but short term, technicals usually trump fundamentals. Unless, that is, the fundamentals *change* significantly due to an earnings announcement or major news, in which case the course of the technical pattern is diverted.

        Sentiment: Strong Sell

125.00+1.66(+1.35%)Jul 28 4:00 PMEDT