7 Takeaways From Facebook Inc's Chart

Schaeffer's Investment Research
  AUG 21, 2013 3:55 PM

The analyst community favors Facebook: 26 out of 30 rate the shares a "buy" or better.

 


Today’s chart is of Facebook Inc. (NASDAQ:FB), which operates as a social networking company worldwide. The company builds tools that enable users to connect, share, discover, and communicate with each other; it enables developers to build social applications on Facebook or to integrate their websites with Facebook; and it offers products that enable advertisers and marketers to engage with its users.



What I'm looking at:
Strategy:  With optimism running high and a possible overhead resistance, avoid initiating new aggressive long positions.  If interested in shorting use a stop above $40 and target $34 area.

This article by Tony Venosa, CMT, was originally published on Schaeffer's Investment Research.

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