Wondering whether to friend Facebook (FB)? Here’s your trade. (Hint: The answer is “yes”). (September 02, 2014)
I’m looking at Facebook ( NASDAQ:FB ), and this is an amazing setup here. Jim Cramer is going to be talking about it on “Mad Money” before you get a chance to look at it here. This is in a volatility squeeze, the stock is up on about average volume today, but you can see how tight the Bollinger Bands are.
What I like about this is, it’s not that far extended above the 50-day moving average. Look at this, the last time was at this price point was here, look how low the 50-day moving average was. Now it’s at the same level and the 50-day moving average is much closer to it, so it’s done this kind of zigzag flag here, right? So here’s my suggestion, I think you buy this stock, and you buy it on this little tiny breakout here, and my bet is this stock moves to about $100.00 or so.
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