Facebook continues to trade as expected however, the decline might be halted at the 50% Fibonacci based on how the current structure is unfolding.
A top looks in for now.
OECD downgrades global growth to +3.3% for 2019 from prior estimates of 3.5%. Near term pullback broadly before higher are my expectations.
From a top-down view of the economy, we are seeing an expansionary environment albeit at a slower pace. Using net income versus operating expenses Facebook is the cheapest its been since its inception back in 2012. Near term headwinds are likely to prevail in tandem with the broader averages and a near term target of $144 is likely before we move higher into our...
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So far Facebook share is still on a bullish trend. After the Cmabridge Analytica issue, it has continue to go up, due to a positive financial report. After all, good fundamental is the way to go. Never be affected by the bad news. Facebook still have a very good business proposition. Expect Facebook to continue to perform well and ride on the current bullish trend.
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Bearish correction os about to end