TRADING TIPS

Should I Buy Facebook

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. Hubert

12 thoughts on “Should I Buy Facebook”

  2. Chris

    Hey Hubert – Funny you mention this, just picked up some today.

    Not many leaders in tech lately, but this one has been showing some positive relative strength in the past few days. Thanks and keep it coming ..

    Reply
  3. C. Michael Croston

    Hi Hubert,
    I’m sure there are a ton of people tat wish I would buy FB. It did well today though the market was down mostly. It’s one I have on my radar, let’s put it that way.

    Reply
  4. Sai

    Facebook for some reason has never worked for me. Every single time it went against my position. SO have decided to not trade it all together.

    However, I am getting tempted to see what it does around its resistance level. In case if it cant clear it and if the market starts a down move, I will probably get a small put position in FB.

    As of now doing nothing since its way too extended.

    Reply
  5. Bill

    Yes great question! Chances are good it will close the gap, however my plan is to always wait for a pullback that confirms a higher move rather than jumping in. In this example, I believe waiting to see what happens at that resistance level would be safer. If it cuts through, then buy the pullback, if it dies, short it.

    Cheers!

    Reply

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