Although I liked FB for a long time I have recently become somewhat impatient with the stocks performance.
For my personal taste the company recently has attracted a lot of negative publicity and the recent news coming from its Australia business does not particularly add positive sentiment.
Although fundamentally sound I believe there is too much headwinds atm for the stock to outperform other names.
I am thus likely to trim my holdings to a minimum in order to liberate capital for more promising names.
My strategy:
For my personal taste the company recently has attracted a lot of negative publicity and the recent news coming from its Australia business does not particularly add positive sentiment.
Although fundamentally sound I believe there is too much headwinds atm for the stock to outperform other names.
I am thus likely to trim my holdings to a minimum in order to liberate capital for more promising names.
My strategy:
- Hard SL at $255 (short term support at 200 MAVG and low end of regression channel)
- Gradually selling on positive trading days, trimming about 75% of my holdings
- Swing trade to re-enter around Mid-Term Support levels
Comment:
Nice bounce off the short term support level, approaching $300.
Bad timing closing most of my position early March, was too impatient. Lesson learnt.
However, I will seek to fully exit FB above $300 as I believe in better value in other stocks.
Bad timing closing most of my position early March, was too impatient. Lesson learnt.
However, I will seek to fully exit FB above $300 as I believe in better value in other stocks.
I will maintain a small position and also have exposure through ETFs, but I see better value in some of the recent value sector laggards.