Monday, July 7, 2014

FB should you be long here?

My comments on this article:
http://seekingalpha.com/article/2301875-numbers-aside-why-you-should-be-long-facebook

Nice article and agree with the headline of going long on FB right now, maybe longer term. I am not a buyer at this level for sure. I am neutral and want to see how it shapes up. Technically above 66 is a good buy with 70 being the target. If you add stops of 64, the risk reward is not great to take this trade.
My action is do nothing.

Facebook fell well to 55 level recently and if you have already missed the boat, above 65 area is another opportunity. But need to tread cautiously since it is already up 20% since it's fall to 55 area...

Buy (if you will) but with caution is my view