here’s post from September 2013 showing BUY recommendation on FB in/around 16-18.
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.
http://bartscharts.com/wp-content/uploads/2013/12/main20131230153946.png
where are we now …? Sure looks like a nice 5 wave advance occurring. So, it’s just a matter of time before it cracks….
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
Is this the top? Looks very strong.
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
you are sincerely welcome. well done. B