FB Long Thesis and Plan (Journal Entry)

$FB The long-term bullish pennant for Facebook is still intact here. Upside potential is 17% from the $270ish level that I expect us to be around near the end of April around earnings. 17% is my thesis because of the range of the pennant being 17% approximately. If breakout were to occur, then total breakout to the upside should be similar in totality.

Fundamentals for consideration:
Of the mega-cap tech companies Facebook is considerably cheaper with a P/E of 25.6 compared to the rest of FANG at the current time. AAPL for example has a P/E of 33 currently.
Also of note: FB has been the one to keep your eye one when attempting to identify where the overall group (QQQ) is headed. It has been leading us down first, as well as up first.

Opinion only, not advice. Goodluck.

Trade active:

My levels have held thus far.

Comment:

Trade closed: target reached:

Boom

Trade closed: target reached:

Profit taking likely right here.

I'm a seller.

Or buy some $265 puts.