Anthony Jackson
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This Is Why I Am Shorting $FB Hard

Shares of Facebook Inc (NASDAQ:FB) have run sharply higher on hopes of stellar earnings. At $160.00, the chart tells me to short it. In other words, earnings may not be what investors hope. The stock is into a major trend line on the daily chart that has been hit three other times. Each time the stock has hit this trend line, it pulls back sharply. Based on valuation metrics, technical signals and this trend line, I am initiating a heavy short on shares of Facebook Inc at $160.00. My downside target will be $147.50. This is a swing trade I expect to play out within weeks.

 

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