Facebook Ready to Test 272, Perfect Golden Pocket Bounce

Facebook got a nice bounce off the golden pocket with some continuation today. It looks like ready to test last weeks range at 268 and above to 272. A break 272 should trigger and all time high test. FB is lagging some of the other big tech stocks that have already test and failed last weeks high range. Timing may good for all these names to break-out those ranges together.

Earnings are also on October 29th.

Next weeks 265 Call looks great to capture this bounce up to at least 272. If it continues higher you can always roll-up with profits to the 285 another week or so out. Patience is key, big day today may lead to an inside day tomorrow, especially if overall market consolidates. Watch the levels.

Comment:

We nailed this one! Great job, hope everyone did great. Probably need some time under 272. But once we close over we should really start to take off.

Trade closed: target reached