Last week FB CEO came out and talked about FB's earnings and revenue, which both came in solid, although slowling substantially. FB is Overpriced by most standards, trading at aorund 70 P/E and 30 forward P/e .
TEchnically FAcebook as been following this rising lower trendinline, but has failed ot make a new high. The volume ahs also been on a declining pattern with a sudden pop now that earnings are out. FB also hasn't really had a good decline after popping and running for over 15 months in 2013 (15 months is usually where I see momentum names start to falter a bit.) .
Sooner or later facebook will need to get out of this base. But with earnings decelerating and expenses expanding, combind with the apparent technicals, fb is in for one mean correction.
TEchnically FAcebook as been following this rising lower trendinline, but has failed ot make a new high. The volume ahs also been on a declining pattern with a sudden pop now that earnings are out. FB also hasn't really had a good decline after popping and running for over 15 months in 2013 (15 months is usually where I see momentum names start to falter a bit.) .
Sooner or later facebook will need to get out of this base. But with earnings decelerating and expenses expanding, combind with the apparent technicals, fb is in for one mean correction.