Rationale
Tech is cheap, funds will be looking for bargains.
Entry would be at mid term Sept support, shot term volume shelf.
Volume has increased considerably in the last few days.
FB earnings at the end of the month
Calls dominate options open interest for the next few weeks
When the market was selling off on Friday, FB stayed green for the day, indicating underlying strength.
Profit Target just below the major volume shelf anchored to November.
Tech is cheap, funds will be looking for bargains.
Entry would be at mid term Sept support, shot term volume shelf.
Volume has increased considerably in the last few days.
FB earnings at the end of the month
Calls dominate options open interest for the next few weeks
When the market was selling off on Friday, FB stayed green for the day, indicating underlying strength.
Profit Target just below the major volume shelf anchored to November.
Trading ditutup: target tercapai:
What a beautiful clean swing. PT reached today.