Facebook Tags Major Short Level
InTheMoneyStocks.com | May 10, 2018 01:50PM ET
Shares of Facebook (NASDAQ:FB) (FB) have surged from below $150 to over $185.00 in less-than six weeks. This 23% move in the stock is in response to the negatives of Cambridge Analytica being put behind them and a reflex technical bounce. However, the technical bounce has gotten far ahead of itself with greed. In addition, a major gap has just been felled at $185.05. This will trigger a pull back in the stock to a target of $168 in the near-term. As a swing trader, I look for opportunities like these. This is a high-reward, low-risk opportunity short trade.
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