FB - holding the gains

Facebook (FB) ended the week -1.0% @ $34.00, but that makes for some good initial price consolidation after the hyper-gains of Thursday. Near term trend looks broadly bullish, the IPO level of $38 is the next obvious upside target.


FB, daily

Summary

All things considered, FB is holding its massive gains from Thursday, exceptionally well.

Even if FB  just trades sideways for the next few days..or even weeks, that will be a major achievement.
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As many recognise, there will be significant sell side pressure once FB nears the IPO level of $38, as original IPO buyers will start to sell into continued strength.