The Question of the Day is, Should I Buy Facebook?
Hubert Senters here, let’s take a look at Facebook.
It’s a complicated answer, and it really depends. If you’re already long Facebook from Higher or if you just recently got on Facebook.
Now if you’re unfortunate enough to pick up Facebook on the IPO, then this video is not much help to you. However, if you did the smart thing and waited for Facebook to go on sale for at least half of it’s IPO price then you are sitting in a good position. As I do this video, Facebook is trading at $25.94. There is an open gap above, around $26.70 which should act like resistance.
If and when it clears $26.70, then the next target would be $29, and after that $32.
Remember all gaps get filled over time, so Facebook has a decent shot of actually going through $26.70 and higher.
Good Luck, Hope it helps. See you on the next video.
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