Monday, December 14, 2015
FB Chart - 12/14/15
Facebook failed to break its all time high back in November, finding strong resistance at $110. The stock is now accumulating in a fairly tight range. It is very important that the stock holds its key support point at $100. If it breaks below this level, it could be headed to $95 and even $85. I don’t see any reason to buy until it breaks $110. A short position could be possible if the stock falls below $100, with a tight stop loss right at $101.
Also, check out my Seeking Alpha article on why LinkedIn will outlive Facebook and Twitter: http://seekingalpha.com/article/3756296-linkedin-will-outlast-facebook-and-twitter