FB - climbing ahead of earnings

Whilst the main market saw some moderate price swings, Facebook (FB) was one of the stronger sp'500 components, settling higher by 3.9% @ $58.51. Near term outlook is bullish, and FB will probably be supported by a similarly rising equity market into end month.


FB, daily

Summary

Suffice to say, the FB is broadly still climbing. With earnings next week, the big issue is whether the market get excited by further 'reasonable earnings'. Of course, the most recent earnings were fine, but Mr Market still sold Facebook lower after the initial spike.

Considering the underlying MACD (blue bar histogram) daily cycle, FB has open air to the upper 60s next week, and even a brief foray into the low 70s looks viable.

FB remains one of the top 5 momo stocks, and is most definitely one to watch

--
*next earnings, at the Wed' close, Jan'29