FB, daily
Summary
So, another 1.3 billion shares of FB are now unlocked, and there will be a lot of major institutions now in the process of trying to dump their trash to a willing idiot, ASAP.
Tomorrows price action in FB will be interesting to watch. If FB closes red, then FB back in the teens looks very feasible within days. However, it might take 3-5 trading days for the underlying MACD (blue bar histogram) momentum cycle to level out.
For those looking to re-short the FB, a little patience, would be useful.
Original downside targets, still on track
First target remains a break of the multi-month support @ 17.55. A break of that level should open up a very swift decline to 15, and then 12/10.
That is still viable by year end.
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FB remains laughably overhyped by the media, and overvalued by the algo-bots.
Fair value remains $4, and I would still not be a buyer, even at $1.25 (yes, that's one dollar, and 25 cents).
