FB's looking like it has more upside here, but I refuse to invest in it, other than on short positions out of principle. It appears like we have one last monthly uptrend signal active in the stock, which implies price will hit 159.78, where it can potentially top and go back down to 116.17-115.88. Let's wait and see, there's plenty of time and room to go higher before this is a safe short,
Good luck,
Ivan Labrie.
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This correction might be short lived, don't jump into shorts yet.
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After July ends, this uptrend will expire, it could lead to a significant decline in FB. Stay ready to short it. It almost never works, but it's worth a shot in this case.
@IvanLabrie on the other hand I think it might be too early to count FB out just yet. Why? The same reason I have had since 2016 @$90 when we first discussed this company. The development since 2014 looks too much like a running correction. If that is the case we will have a hell of a run to the upside left (above $500?). I'm not saying it is the case only it might https://behttps://www.tradingview.com/x/c16HHWqT/
@bracken, I would watch it once it hits the target zone, or the time target.
bracken
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Hi Ivan! said about momentumplaying: At some point there are no greater fools left. Watch the breadth numbers. They usually top out way before the general market. No-one wants to play the losers so they all run to the winners (with pos momentum). When there are only a few winners left they all become hopelessly overvalued, "fully priced", priced for perfection whatever you want to call it