The “F” in FANG is back. Let’s check out Facebook (FB). (June 23, 2017)
FB NDX--X FB
Here is a look at Facebook ( NASDAQ:FB ). I think you can buy this stock now. Yes, the ideal time would have been a 145.00, it is up at 155.00 now, big whoop. The bottom line is, the trend is higher here. You can see it has been higher for a long time. We have got our various buy signals here that we were tracking along the way. But as I look at this now, it has had a couple months anyway, after this high, it has had a couple months to rest. It sure looked like, a double top, came back down to here, but we didn’t get any continuation.
Instead, the stock is back up here, zigzaging; a move above, I will call it 155.00 and it is at 155.07 now, a move above there. That is a buy signal. So go ahead and take this stock. Look, it is Facebook ( NASDAQ:FB ), they are growing at a monster rate, always have. You have got a downside risk of about 7 percent, although I wouldn’t even give it that much room. They don’t report earnings for a little over a month. When you think about this, they don’t report earnings for a little over a month, the stock is close breaking out to an all-time high. The intraday high here is 155.59, so basically unless this stock goes straight down on Monday this is going to hit a new all-time high, and then you will hear the whole media going nuts over this.
I think you have got to buy some Facebook ( NASDAQ:FB ) now. If it happens to pull back a bit to the 50-day moving average I would add some more. But this is not a top. There was a potential for it to be, but with the way the market is working now Facebook ( NASDAQ:FB ) isn’t toppy. I think this is a good time to be buying. Trust me, you can thank me later.
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