Monday 4 June 2012

FB - yet another great day for the Facebook

Facebook (FB) had another great day, losing just over 3% ! This is clearly great progress, and soon enough this stock might even start rising for 2-3 days in a row.


Facebook, daily


Summary

As noted over a week ago, with the break of $30, the next soft level is $25, I'm guessing we won't go much lower than low 24s by the end of this week, and then we'll see FB actually rally for a few weeks - along with the main market into the mid sp'1300s

With the monthly index target still sp'1100..that would probably take FB as low as the mid teens by late July/early August. 

Fair value...remains $4