FB updated …

here’s post from September 2013 showing BUY recommendation on FB in/around 16-18.

https://bartscharts.com/2013/09/29/facebook/

here’s a look at the high flyers w/ FB included … “this stock is going to get smoked” was pre-mature but do believe the RED ARROW is where it’s going.  Correction should take it down to HIGH of IPO price around 42  bucks.

where are we now …? Sure looks like a nice 5 wave advance occurring.  So, it’s just a matter of time before it cracks….

Main20140215155529

3 drives to a top?

3 drives to a top?

THANKS for the question … would be looking for TOPPING areas in/around now to the 72 level as it does appear we have finished a 5 waves sequence.  Bullish trend to continue w/ support found in/around 54-60.

Hope this helps …

Bart

4 Comments on “FB updated …

    • Alex

      I agree, it does look strong. We have some very strong targets coming into play in the 72-76 area. Hence, I would WAIT for a weekly signal reversal candle before looking to exit. As the tide continues to ride, enjoy the wave. However, it has been an extremely strong run. We have had this area as a long term target so watch for the first sign of weakness (a daily signal reversal candles) but a weekly signal reversal candle should be expected. If we can close that small gap around 69 and continue up, stay w/ it. If we lose that level to the downside then the entire 55-60 gap will be targeted and then the 27-33 area. Does this help/make sense? Keep the questions coming.

      Bart

      • What a difference a day makes! Wow. I exited at the close, when I saw the bearish engulfing on the daily!! I value your opinion and knowledge as always. Thanks

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: