I haven’t talked about Facebook since April.
The breaking of the resistance on USD 300 represented, as often happens, a real turning point for the stock, which for some time had lateralized between $ 250 and $ 300.
After the break, the resistance became support which worked twice creating a double bottom. Following the earnings at the end of April, an important uptrend began which reached $ 375 just yesterday, and then closed the day in the 370 area.
Next week there will be earnings, the estimates foresee yet another positive surprise, but for those who speculate on it, it is necessary to emphasize that this opening in the Gap could be followed by profit-taking, and therefore there could be a pull-back at least in area 334 dollars.
For those who, like myself, hold the stock in their portfolio, buying and selling on its “journey”, in addition to the mentioned level, in the case of a retracement, the $ 315 and obviously the most important level: $ 300, where of course I would greatly increase my position.
If the stock continues to rise, having no references, given that we are at an all-time high, I will not sell shares until it reaches $ 400.
Overall, I continue to strongly believe in the company, always hoping that sooner or later it will decide to expand the business beyond Oculus, Instagram and WhatsApp.
DISCLAIMER: I am not a financial advisor nor a CPA. These posts, videos, and any other contents are for educational and entertainment purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.