Facebook was trapped under $190 for almost all of August, all of September and all of October. But it broke out of the channel thanks to strong earnings two weeks ago. Now it’s pulled back and is holding that breakout point.
FB has churned for more than a year as CEO Mark Zuckerberg deals will legal issues and pushes new services like Stories and Instagram. Meanwhile, he’s boosted margins by scaling back on heavy spending. FB is also growing revenue per user.
Last quarter suggested it’s working so far. FB’s actually gapped higher following all four of its earnings reports this year.
The bulls might stick with it as long as the stock holds the $190 area.
FB
FB has churned for more than a year as CEO Mark Zuckerberg deals will legal issues and pushes new services like Stories and Instagram. Meanwhile, he’s boosted margins by scaling back on heavy spending. FB is also growing revenue per user.
Last quarter suggested it’s working so far. FB’s actually gapped higher following all four of its earnings reports this year.
The bulls might stick with it as long as the stock holds the $190 area.
FB
