while jpm went higher than pre recession levels and bac almost half...this is a laugher
thanks bro! too many bulls on this one for my liking. Its could slip back in the wedge today to be honest my outlook is neutral until earnings. Looks like the options sellers are hitting max pain every week.
From investopedia: "A rising wedge is a bearish pattern that signals that the security is likely to head in a downward direction. The trendlines of this pattern converge, with both trendlines slanted in an upward direction."
Honestly I couldnt support a buy at this point until I see Q4 expenses, since the last earnings we were warned about this. If FB misses by even a fraction it will sink like the titanic.
you realize this board is for discussion(and trolling) of FB stock only you idiot
In addition to the above, if I was a long term investor in this (which Im not) I dont see how you can sit here and like this stock with all the insider sales, looks very toxic to me long run,
Ok lets be serious for a minute here because you actually seem to know somewhat of what you are talking about. FB is trading in a wedge right now and has not broken past resistance on the upside (which is around 77). The stock has also been hanging at the 50day MA for about a week or so, but I dont see it breaking lower yet either. Luckily for me, I sell options based on this wedge and when it breaks one way or the other I will change my outlook on the stock. For now I am nuetral with a slight bearish outlook until earning; based on the chart and the overall market. The only reason this popped to 76.50 is because of the "upgrade" which the same thing happened last year in December to not only FB, but YELP and TWTR (in 2013). This leads me to believe that the hedgies are trying to get out before EOY. Today could be the day it breaks out of its wedge and starts a downward trending pattern, but that will depend on multiple factors.
That is my true position on this stock, I just like to have fun with the "FB TO $120 BY EARNINGS!?!?!:!!:!" idiots on here ;)