Starting mid 2014, FB entered a price range. The bottom was about $72 and the top was about $80.
Now that some time has gone by, it is easy to look back and see what was happening. The top of the range has been breached a few times - back in October, in December, and February. The December breach was the strongest as FB actually closed above $81.00.
Today, it looks like FB "might" again close above $81. If it actually does, then tomorrow it would be nice to see another close above $81.
If FB stays above $80.75 ish for a few days it is probably safe to say FB is going higher.
As long as price stays above the green UT line you can stay long this stock. If you want to add to your position, do it when the price is close to
the green UT line.
If price ever closes below the green UT line you should take notice and consider pairing down your position. Protect your profits...
March 19 Idea Update
I know it's early in the day but this idea from 13 days ago looks even more accurate today. The price is through the $80.75 ish level and seems strong at the moment. For today, a close above the horizontal grey line will be constructive for longs. Tomorrow, just as important, a continuation of upward momentum is needed. GLTA!
Now that some time has gone by, it is easy to look back and see what was happening. The top of the range has been breached a few times - back in October, in December, and February. The December breach was the strongest as FB actually closed above $81.00.
Today, it looks like FB "might" again close above $81. If it actually does, then tomorrow it would be nice to see another close above $81.
If FB stays above $80.75 ish for a few days it is probably safe to say FB is going higher.
As long as price stays above the green UT line you can stay long this stock. If you want to add to your position, do it when the price is close to
the green UT line.
If price ever closes below the green UT line you should take notice and consider pairing down your position. Protect your profits...
March 19 Idea Update
I know it's early in the day but this idea from 13 days ago looks even more accurate today. The price is through the $80.75 ish level and seems strong at the moment. For today, a close above the horizontal grey line will be constructive for longs. Tomorrow, just as important, a continuation of upward momentum is needed. GLTA!
