FB formed a double Bottom from 11/18 to 02/19 which was confirmed by the succesful breakout on 14 january. Fueled by the earnings Reports on 30 january FB had a big upside gap. Now we have breakout of the consolidation and so we have further updside potential.
Profit Target 215$, Stop loss 165$
2:1 reward : risk ratio
The Company has gone its worst quarter in PR disaster but it is still a mainstream advertising platform because if you run an an ecommerce business you know the impact of facebook, instagram and whatsapp! - All owned by this giant.
Expecting a sharp appreciation.
Facebook is a stock with strong fundamentals and zero debt. Irrespective of some bad news recently, the stock still rallies in the upward trend.
I have seen the weekly chart which shows since 2013 the stock is on the upward trend and moving above the 100 EMA consistently.
The chart respects the strong support pink line and on july 2017 it broke the green...