FB heading to strong support, don't miss good opportunity
General trend analysis: Facebook is reaching two supports at 160 and 150. The resistance is at $180 with stronger support at $150.
Rick management: Current price is $160. Win = $20, lose = $10 golden 2:1 risk ratio.
Technical analysis: MACD(moving average convergence divergence) and RSI both confirm that this is a good time to buy.
Logical reason: Facebook is the type of stock where little bad news can cause massive selloff and another little good news can cause massive buyback. Look at the previous downturn on March 2018, massive selloff 200 million in a week. As soon as earnings come out everyone is afraid of missing out and the buy pressure was so high that it got pushed to $200. Similar things will happen after earnings on Nov, the price will be at least back to $180. Facebook Earnings Per Share is 25. This bulimic trading makes very little sense... panic ... after panic... The best time to buy food is after someone throws up.
Rick management: Current price is $160. Win = $20, lose = $10 golden 2:1 risk ratio.
Technical analysis: MACD(moving average convergence divergence) and RSI both confirm that this is a good time to buy.
Logical reason: Facebook is the type of stock where little bad news can cause massive selloff and another little good news can cause massive buyback. Look at the previous downturn on March 2018, massive selloff 200 million in a week. As soon as earnings come out everyone is afraid of missing out and the buy pressure was so high that it got pushed to $200. Similar things will happen after earnings on Nov, the price will be at least back to $180. Facebook Earnings Per Share is 25. This bulimic trading makes very little sense... panic ... after panic... The best time to buy food is after someone throws up.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.