Here’s how we are trading Facebook ($FB) (August 27, 2021)
FB
Facebook ( NASDAQ: FB ); this is a stock that we added as an active trade back here on the first rebound; it was actually a really good entry.
You take a stock like this, on the pullback, that shows support and then you keep a really tight stop so that the only way you are stopped out is if support doesn’t hold. And because your entry is so close to the support level you are not risking much money. If you’re stopped you’re stopped, if you’re not you’re not. What’s not to like?
Since that entry the stock has gone up 4 consecutive days. Then a little-bitty down day, and then now for a 5th day. So 5 out of 6 days this has been going up, which is what we want. It is still in this box though.
Now, what’s going on is, Facebook ( NASDAQ: FB ) is really starting to get into digital wallets, stablecoin, and then the non-fungible tokens, which personally for me, maybe I am just an old fart but these non-fungible tokens like, what the heck? So I get a piece of history on a microchip that is somebody doing something. I don’t know, if I can make a lot of money in that, how about if I do a non-fungible token on something that’s not fungible? It doesn’t make sense to me.
Anyway, they are getting into all of that and it does make sense to somebody because the stock went up over $8.00 today. I am glad that we are still in this, we will continue to be in this. Our stop is right at 348.00 and so we are going to get stopped out if the stock falls about 6 percent. I don’t think it is going to do that, I like the way this stock is trading and so I am just going to stay long.
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