Coast Clear to Long FB
Long Facebook
I don't have fancy charts but the recent candlestick chart is clear that Facebook had completed its double bottom reversal to turn bullish. This is confirmed when Facebook went above $171 today in a continuation of the bullish pattern. Facebook also announced superb results despite the negative privacy news about it. Finally, it would appear that the political issues (shutdown, trade wars) and hawkish Fed had all cleared the horizon. My opinion is that the coast is clear for good shares to shine in Feb 2019 after the sharp downturn in the last quarter of 2018 and the recovery on Jan 2019. Sure, there are worries about slowing Chinese growth and there will be political fights over the wall but it is unlikely to slow down the recovery and the general recovery theme.
I don't have fancy charts but the recent candlestick chart is clear that Facebook had completed its double bottom reversal to turn bullish. This is confirmed when Facebook went above $171 today in a continuation of the bullish pattern. Facebook also announced superb results despite the negative privacy news about it. Finally, it would appear that the political issues (shutdown, trade wars) and hawkish Fed had all cleared the horizon. My opinion is that the coast is clear for good shares to shine in Feb 2019 after the sharp downturn in the last quarter of 2018 and the recovery on Jan 2019. Sure, there are worries about slowing Chinese growth and there will be political fights over the wall but it is unlikely to slow down the recovery and the general recovery theme.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.