TRADING TIPS

Facebook Next Support

Hubert Senters here. Let’s take a look at Facebook. Facebook breaking down today. It’s down $4.87 as I’m recording this video for you live down $2.87 percent3. We got a little bit of support area here on Facebook. Now, we are below the cloud so it’s a self-assured. If it does not hold this $160 to $150 area then it’s going to drop to $144. And then if $144 does not hold onto your hats ladies and gentlemen, the next support is always down to $12 0. So from basically $163 it could drop all the way to $120. I’m not saying it’s going to happen in a day or even a month. It could eventually just grind down there. But be careful. If this area does not hold then we’ve got the last support area at $144 and then it’s going to drop to $120. So be careful. Now, if you’re a longer term investor then I would buy at those places. I would buy at this support area. I would buy at $144 I’d buy at $120. If you’re more, you know, a little bit more nimble you’re trading in now, you’re doing the shorter term swing trades as opposed to investing in position trading well then obviously, and you could short it and target those areas as cover points. Hubert.

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