JCP

FB Extremely Overbought

Short
BATS:META   Meta Platforms, Inc
0
FB extremely over bought because investors think that FB finally have the ability to be profitable. I have no idea whether this will be true or not, but here are some recent drivers.
1. better mobile earnings potential
2. Suckerberg starts to care about his shareholders.
3. anything else.

Anyways, FB is up almost 50% since nov 10th. MACD and RSI extremely bought. Bound for a correction very soon, becareful of 8%+ moves if any negative news comes out.

Recommendation Date :Dec 2
Short @ 28.50 or when 1d MACD fast line crosses slow line
Target @Uncle_DU(by Jan 31)
Stop @ 30
1:3 Risk Reward Ratio
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