FB will have a major correction beginning Monday.It hit a major resistance today and turned around.
Major support at 27.94. if goes through that the next support at 26.30. It is also overbought. Also the report after extended markets closed today about the CEO exaggerating number of mobile users will be a catalyst. Of course the whole market may also begging a much needed correction after nearly 5% gains in a week.
Yes course, and it's also going to single digits according to all the other shorts and bashers, and it certainly will fall to $15 according to Barrons.
Face it. FB priced the IPO at the top, period. It has performed just fine since the initial fracas, and is making the transition to mobile fairly seamlessly. Given LNKD's valuations, and all the analysts now being FB bulls, a major correction prior to announcing revenues doesn't seem likely.
Everyone knows that FB has a shot at beating expectations in a few weeks. So why sell now?