Looking at FB on the daily, the price along with major moving averages are converging to the 260-270 range.
Depending on how earnings go, FB looks prime for a breakout in either direction, although I think this will break out to the upside.
FB is trading at a reasonable ttm PE multiple compared to other FAANG stocks (26 compared to 30-40 for AAPL MSFT & GOOG) and FB hasn't traded at this multiple since the 180's.
According to estimates from finviz, the expected EPS growth in the next years is 20% annual. If this is true, FB trades at a future multiple of 20! Very cheap!
I would get in at 260-270 as price ranges narrow, and set a stop ahead of earnings in the event a catastrophe happens at 245. Being bullish on FB, I would let a breakout to the upside run on for the long term.
Depending on how earnings go, FB looks prime for a breakout in either direction, although I think this will break out to the upside.
FB is trading at a reasonable ttm PE multiple compared to other FAANG stocks (26 compared to 30-40 for AAPL MSFT & GOOG) and FB hasn't traded at this multiple since the 180's.
According to estimates from finviz, the expected EPS growth in the next years is 20% annual. If this is true, FB trades at a future multiple of 20! Very cheap!
I would get in at 260-270 as price ranges narrow, and set a stop ahead of earnings in the event a catastrophe happens at 245. Being bullish on FB, I would let a breakout to the upside run on for the long term.
Note
Excellent price movement by FB, getting in on this early in the 260 range has paid off well. 25% gain in 2 months.
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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.