FB - ready to rollover

Facebook (FB) has had a very strong dead cat bounce after its initial collapse from IPO day of $45 to the $25s. It now appears stuck in the 32/34 zone. A break under the daily 10MA of $31 would be the first initial sell signal in my view.


FB, daily

Summary

End 2012 targets remain - the mid teens, although that could come very much sooner if some more negative news stories start piling up.The SP' in the low 1100s would also help by early August!

Regardless of the main market..FB remains overvalued by around 90% or so.