WTF Chart of the Day: Facebook 2013
By LawrenceFacebook (symbol FB) was talk of the town last week. What’s in store for the stock?
Back in September 2012, I called the bottom on Facebook when the mainstream media on all out trashing of the stock. Now that they have changed their minds, are they wrong again?
Blue lines highlight the range of last year.
Orange lines highlight the first quarter 2013.
Dark red lines highlight the range of 2nd quarter 2013.
Green lines showing potential measured move from the low of 2nd quarter 2013.
Red up arrow marks the breakout of year 2012 midpoint.
Projected upside is likely cap by 200% projection from 1st quarter (the higher red horizontal line).
Yellow zone marks the likely reversal area.
Given the way STOPD levels are lined up, I think Facebook will likely go into distribution and capped around 40 until end of 2013. A pullback to 1st quarter high (top orange line) is very likely.
Thanks LC. Have you tried doing a chart on TSLA? Since IPO in 2010 that stock has been in a narrow trading range for a couple years until recently. This stock has been squeezing and using 100% expansion targets from prev quarter and month seems to point higher. For sure I’m not going long this stock now but was curious where you think the upside cap is.
Sure will have it posted.