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.

Below, find some more great content from Schaeffer's Investment Research:

Daily Game Plan – FOMC Minutes Spark Volatility

Study of the Week: What Is Next For 2013?

Zillow Inc (Z) Call Buyers Bank On a New High

Twitter: @schaeffers
No positions in stocks mentioned.