by
I want to look at Facebook ( NASDAQ:FB ). I’ve been talking about this stock in our “Premium” content for a while; not as a trade, but just as an investment. As you’re really looking here at the weekly chart; this is a stock that I think is moving higher. The weekly chart really illustrates this pretty well. I have been saying (and I’m kind of chastising myself here for this), I have been saying for a while, “Does anybody really think that Facebook is not going to get above 100.00?” Of course I was saying that back here, “Did anybody think that Facebook is not going to get above 100.00?” So lets just say my timing was a little bit suspect, to say the least. But as you see this stock moving now, they report earning on November 4th, that’s a while to go, that’s a few weeks.
So I would want to be long Facebook ( NASDAQ:FB ) going into earnings. Where you are on November 3rd, that’s a whole other deal, I’m sure I’ll be covering this stock between now and then. But this is a stock that I think is moving higher. You’ve got to respect this resistance here. I would expect this stock to pause a little bit, just as I would expect Amazon ( NASDAQ:AMZN ) to pause a little bit when it tests this prior high at right around 580.00 or so (by the way, I like Amazon ( NASDAQ:AMZN ) into earnings as well). I like Facebook ( NASDAQ:FB ) going into earnings. The stock’s got some pretty decent momentum. The market has kind of an underlying bid to it and so these last couple of days were on higher volume. I think Facebook ( NASDAQ:FB ) is going to work for you.
No comments:
Post a Comment