Big buys are coming in. Feye just recently broke its long term downward trend with big buys. short sellers will get squeezed . I would wait a couple of days and see some consolidation in price action and catch the next leg up.
Other than that
No buy or sell at this point. Wait for the set up. No trigger no trade. ...
BABA opened at 100 dollars a share on its ipo day. If you couldnt get Pre IPO price and you the public bought at ipo release you would have been down 10-18% right off the bat.
Over hyped IPO, you wait for a signal to buy.
THe first signal to enter was when it broke its down trend at 88.56 (Yellow circle 1)
RSI neutral. Almost over sold range
50 Day moving average broken. 50 moving average holding up as a good resistance.
Next support is 55.01
Next big support is 51.63 where the 200 Moving average and support lines hold.
If 51.63 breaks the chart transforms into a bear run. Rest in peace
John Yi Alerts: FB is ...