Emma Asma Cornwall
0
All posts from Emma Asma Cornwall
Emma Asma Cornwall in Gainers & Losers,

​Facebook shares won't reach $200

Facebook shares have been trading in a rising wedge for a while already, and I'm getting increasingly cautious about this uptrend.

Recently I heard an opinion of Rosecliff Capital CEO Michael Murphy, that Facebook shares could reach $200 in two years. Well, he has his reasoning for this, but I can't disagree more - on the contrary, I would expect a bearish reversal in mid-term. This wedge is exhausted, check the chart