FB To combine with Matt's chart as we are looking for a bounce.
I'm attaching page 3 of Morgan Stanley's recent report which was
updated after recent earnings. Some really good info in the whole
report, though this page points out how low valuation is right now
compared to other historic events, like covid, data leak, etc. when
the stock typically bottomed before resuming upward. Given how
stretched it is technically, I feel even more confident with this
information.
They lowered their 12 month target after recent earnings from
$395 to $360. I'm just looking to see if we can see some bounce to
the 9 or 13 day area to start and how the market looks at that
time. One day at a time, etc. A few option trades are very enticing
at these levels too, though just long shares also
attractive.
I took a small position on the breakdown, now in ridiculous
territory, though I guess it could always get more ridiculous if
the general market continues lower. A 24 rsi at this valuation is
insane for FB given their profits.
ya, not looking like I should have tried it at the moment
Fortunately my trading account is at 76% cash overall
right now after a lot of selling into the high 4,500s
resistance.
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FB To combine with Matt's
Posted by fundamentalvalues on 17th of Feb 2022 at 08:01 am
FB To combine with Matt's chart as we are looking for a bounce. I'm attaching page 3 of Morgan Stanley's recent report which was updated after recent earnings. Some really good info in the whole report, though this page points out how low valuation is right now compared to other historic events, like covid, data leak, etc. when the stock typically bottomed before resuming upward. Given how stretched it is technically, I feel even more confident with this information.
They lowered their 12 month target after recent earnings from $395 to $360. I'm just looking to see if we can see some bounce to the 9 or 13 day area to start and how the market looks at that time. One day at a time, etc. A few option trades are very enticing at these levels too, though just long shares also attractive.
I took a small position
Posted by fundamentalvalues on 17th of Feb 2022 at 03:02 pm
I took a small position on the breakdown, now in ridiculous territory, though I guess it could always get more ridiculous if the general market continues lower. A 24 rsi at this valuation is insane for FB given their profits.
be very careful with trades
Posted by matt on 17th of Feb 2022 at 03:11 pm
be very careful with trades like that in this tape
ya, not looking like I
Posted by fundamentalvalues on 17th of Feb 2022 at 03:16 pm
ya, not looking like I should have tried it at the moment Fortunately my trading account is at 76% cash overall right now after a lot of selling into the high 4,500s resistance.