(Open) Short FB through 116.23

I sent this out yesterday at the close just didn’t have time to write a write up about it.

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This chart looks absolutely gross. I have been saying for a while if FB cannot reclaim the 200 day MA around 120 then this is rolling over.

It Hasn’t. 

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I believe this has a lot of downside to go targeting under 100.

 

*None of this is trading advice and only my opinions.

 

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One response to “(Open) Short FB through 116.23

  1. I agree. $96 is my PT. Load up the truck at that price.Red Santa Rally means Bearish Jan and that will help.$6B buyback will barely move the needle and mgmt wants price as low as possible.SNAP March IPO not good either.

    Liked by 1 person

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