FACEBOOK is currently a SELL - $FB

source

I believe that Facebook is now considered a big fat SELL right here for a few reasons. I would advise if you have been long a couple years to ring the ole register and here is why:

1. The Nasdaq is ripping to all time highs on the backs of $AAPL, $AMZN and NOT facebook. In fact Facebook is negative on the year as you can see in the chart below.
2. Facebook has formed a "Pro Gap" after earnings and while many people are looking at this being filled hopefully, you can't assume that here and need to wait on the signal. If this pro gap holds and the big boys are dumping then FB is going to get smoked when the market goes down, or even sideways.

This pro gap is very important and you have levels to work against. If FB goes back positive for 2018 you can buy. If it gets over the prior pivot and enters the gap then you can buy, but right now if it is BELOW those two levels it is a BIG FAT SELL.

Below is a long term chart that shows the MAJOR trendline where I would be looking FB to test and possibly buy there for the long term, if that fails then get the hell out of the way. When Everything is going up but your stock, usually a sign of relative weakness and its time to move on (for the first time in a few years)

Published on

by heyimsnuffles

---