Currently, price is too far off the moving average to add to any longs here, but I certainly wouldn't be shorting it either! If you got all of this last run, congrats! I got out too early. IMHO, Facebook is or going to be winning a lot in court and in public opinion; regulations are something coming for them, but they ARE getting ahead of it. :-)
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To be more clear: buy the dips that go below and back above the MA to partake in the uptrend.
sorry, just o be clear, is it time to buy for the short term or not?
TrendMaster5000
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@mikesears20172017, no worries...Summary: buy the dips that go below and back above the MA. Full thought: Wait for it to revert to the MA to begin a long position. If you are already long same concept, you wait for the MA touch (or any mean reversion) to add to that long. In my experience it is better to put your money to work in something that has some upside. At the current price, there is no way to tell if upside is coming (at least with just a chart), it may or may not be ready for more. So, I am neutral. If price drops to the MA, I can at least say "People were willing to buy it higher, and PROBABLY will do so again." On the fundamental side of FB, there is upward pressure to come, I wouldn't be short nor profit-taking. So, buy the dips is my plan.