Meta PlatformsUpdated Analyst says $300, chart says <$200
Funny how FB sells down at the open while there is news of a $300 price target. Well see the chart for yourself. White line connects low weekly closes and yellow line connects lowest prices. As there is yet no RSI divergence and chart is quite bearish, price could break 200. Note that a few weeks back price closed below white line and shot back up, creating a bear trap. If price breaks line again I do not think buyers will show up.
If you are not in a position yet or missed the morning selloff, use patience to take a good entry. TSLA earnings will probably give this stock direction tomorrow, and if you buy short term puts overnight then use capital you can lose. Otherwise wait. If TSLA earnings push stock up, and other techs, then you may get a nice call trade on FB.
If you are not in a position yet or missed the morning selloff, use patience to take a good entry. TSLA earnings will probably give this stock direction tomorrow, and if you buy short term puts overnight then use capital you can lose. Otherwise wait. If TSLA earnings push stock up, and other techs, then you may get a nice call trade on FB.
Note
Wow! Looks like after being range bound for a frustrating amount of time, stocks are moving these past two days. Hope some of people made a nice gain on puts here.
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