Wednesday, 7 August 2013

FB - still holding the big gains

Whilst the main market slipped for a third day, Facebook (FB) continues to show underlying upward pressure, closing +0.9% @ $38.88. Near term price momentum is cooling down, but FB doesn't look likely to be trading <$30 at any point in the remainder of the year.



For the FB uber-bulls out there, today's closing gain was yet another sign of the major shift that has occurred since the recent earnings.

It would appear general consensus is for late 2013 price action in the $45/50 zone, which might equate to sp' in the 1850/1900s.