Hubert Senters here.
Let’s take a look at Facebook. Obviously, the entire market sold off today and the tech companies went with them. Facebook here has breached a little bit of support area. It’s closed below the turning and the standard which is the yellow and the purple line.
It had also broke below the support area of $223. It’s probably going to head down into the cloud.
And it could potentially go next week as low as $200. So currently it’s trading at $216 so it’s another 16 points drop. And then if it work its way through the cloud it could potentially go back down here and test these lows around $142.
If you are long Facebook you might want to tighten up your position. Move your stop. Just be aware of it’s turning around a little bit. You need to be aware of that type of stuff. I’m going to be doing a special webinar on Monday at noon EST. I hardly ever do Monday at noon just because I think people don’t like Monday webinars at noon.
I don’t like them. In particular I like chilling on Monday and getting focused. But anyway, one of the investments that is in our alert services is getting ready to close for funding. And I want to make sure everybody has the opportunity to take a look at it before it closes because the last time that I did this series of webinars some people missed out and I had to talk to them and I don’t like doing that. I don’t like going ‘hey, I’m sorry, it’s closed.’ I’m going to give you an opportunity to take a look at it Monday and we’ll go from there.
Good luck. Hope it helps. See you on the next video.
Hubert.
