NEW DIRECTIONAL CALL PLAYS
Facebook, Inc. - FB - close: 70.84 change: -0.73
Stop Loss: 68.40
Current Option Gain/Loss: Unopened
Time Frame: exit prior to April expiration
New Positions: Yes, see below
Why We Like It:
FB is in the technology sector. They are the largest social network on the planet with over 1.06 billion active monthly users.
The stock remains a favorite for the momentum trading crowd. Shares just tagged new all-time highs yesterday.
I am suggesting a trigger to buy calls at $71.25. More conservative traders may want to wait for a breakout past $72.00 (a new high) before initiating positions. If triggered our multi-week target is $77.50.
Investors may want to aim higher. The Point & Figure chart is very bullish with a long-term target of $110.
Trigger @ 71.25
- Suggested Positions -
Buy the Apr $75 call (FB1419D75) current ask $2.21
Entry on March -- at $---.--
Average Daily Volume = 58 million
Listed on March 06, 2014