Since late October, there has been some fear about the long term FB uptrend being compromised.
This scenario is increasingly unlikely since the recent, triple rebound around 114.
In this context, FB has also been registering higher lows (another positive).
Short term momentum pickup looks healthy and deserves to be played.
Look for strength confirmation upon close >120 and then >122.
Earnings are one month away:
- BUY half position here (leave half position post earnings)
- STOP at recent 113.50 low
- TARGET 134
Alternatively SELL SHORT-DATED PUTS:
- Sell FB 17Feb17 $110 at $1.61/share (11.51% annualized) and get earnings exposure
- Sell FB 27jan17 $113 at $0.70/share (9.79% annualized) if you don't want earnings exposure
UP LEVELS: 120 / 122 / 125 / 126 / 134
DOWN LEVELS: 116 / 113.5
This scenario is increasingly unlikely since the recent, triple rebound around 114.
In this context, FB has also been registering higher lows (another positive).
Short term momentum pickup looks healthy and deserves to be played.
Look for strength confirmation upon close >120 and then >122.
Earnings are one month away:
- BUY half position here (leave half position post earnings)
- STOP at recent 113.50 low
- TARGET 134
Alternatively SELL SHORT-DATED PUTS:
- Sell FB 17Feb17 $110 at $1.61/share (11.51% annualized) and get earnings exposure
- Sell FB 27jan17 $113 at $0.70/share (9.79% annualized) if you don't want earnings exposure
UP LEVELS: 120 / 122 / 125 / 126 / 134
DOWN LEVELS: 116 / 113.5
トレード稼働中:
Double-whammy as we break to the upside both the wedge resistance and the bottom of the long-term up-channel, which had temporarily turned resistance. We also progressed through 2 levels up in a couple of sessions (120/122) and have closed just below the 3rd (125). All this was achieved in rising, above average volume, giving further credence to the up move. MA behavior also positive as the price closes above the 100MA.
Those who bought on this recommendation should increase trade size (+20%) and raise the stop-loss to 120 from 113.50.
New money could buy here and use the same stop at 120 for a 2/1 R/R, assuming a 135 target.
Those who bought on this recommendation should increase trade size (+20%) and raise the stop-loss to 120 from 113.50.
New money could buy here and use the same stop at 120 for a 2/1 R/R, assuming a 135 target.
コメント:
FB is now very overbought going into earnings, after a 12% performance in 22 days (since we recommended to buy). Recommend raising the stop-loss to $127/Share from $120/Share.
コメント:
Excellent earnings, another breakout (see other FB post today). On a close above 134, increase position size by 20% and raise stop-loss to 129. New money should buy on the break in half position.
