As we discussed on Friday, members should watch for a possible pocket pivot move by FB up thru the 10-day moving average on volume great than 28,599,500 shares, the highest down-volume in the pattern over the prior 10 trading days. This morning the stock is up on increasing volume compared to Friday, so members should have been on top of this one this morning at the open. Othewise, the stock is still within buyable range of a pocket pivot, assuming that the stock maintains enough volume throughout the day to qualify as such. The situation remains fluid but playable, despite the fact that this early in the day it is not possible to determine for certain whether the stock will a) hold above the 10-dma and b) trade enough volume to qualify for a pocket pivot. As one of the big stocks in the social-networking space and the market, FB should be on everyone's buy watch list.
PPR - Facebook (FB) Follow-Up to Friday's PPR Alert
|Published:||9 Jul 2012 13:38 ET|
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