Earnings coming out after the market tomorrow. Price rejected off the 200 DMA and I opened a small short position after the rejection. The RSI is very elevated. SNAP came out with horrible earnings after market today and fell off over 14 %. Both Pinterest and FB fell, FB dropped to 145.37 and has since bounced to 147. .5 fib retracement is 120.67, also there is a gap at that price that could be filled. I will take the side that FB earnings also missed (my guess). There will be a lot of volatility around the FOMC tomorrow and I want to stay in my short so I will have a higher SL to accommodate.
My only reservation is the FOMC meeting tomorrow, but I will take the risk that the earnings will outweigh the FOMC in the short term for FB.
Not financial advise.
My only reservation is the FOMC meeting tomorrow, but I will take the risk that the earnings will outweigh the FOMC in the short term for FB.
Not financial advise.
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Share buy backs, incredible. Stopped out