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TroydTrades
Jan 18, 2021 8:29 PM

BUY $FB PT 275/280 SL 244 - #charts Long

Meta Platforms, Inc.NASDAQ

Description

Rationale

Tech is cheap, funds will be looking for bargains.
Entry would be at mid term Sept support, shot term volume shelf.
Volume has increased considerably in the last few days.
FB earnings at the end of the month
Calls dominate options open interest for the next few weeks
When the market was selling off on Friday, FB stayed green for the day, indicating underlying strength.
Profit Target just below the major volume shelf anchored to November.

Trade closed: target reached

What a beautiful clean swing. PT reached today.
Comments
newgeo
Great analysis!
TroydTrades
@newgeo, remains to be seen if today's momentum continues! But it's a great start for this idea. I'm exiting just before earnings.
TheSignalyst
Fantastic view dear. I respect your hard work
TroydTrades
@TheSignalyst, thanks for the encouragement :)
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