jamiesontrader
Long

Long $fb coming into the Earnings Call

NASDAQ:FB   FACEBOOK INC
Going long $fb coming into earnings call, p/e ratio is at 20
Rsi in the long term severely over sold and MACD bottoming out

I think FB is going to offer earnings call with good results, they have been extremely quite during the sell off.
Instagram is on fire and i think one of the most used social networks atm with ad revenue starting to come in adding ontop of FB ad revenue, we should have stella earnings results

We are in a descending channel , touch the bottom of the channel at $149 with RSI showing a bullish divergence

Entry: $145
Stop Loss: $133 on long term support
Target 1: $156 30%
Target 2: $171 30%
Target 3: $200 remaining

If overall market sentiment shifts out of the drop then this is a great long term hold, with discount prices at early 2017 level and FB is just starting to rev up its over all ad network , with great earnings per share as it is.

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