Bullish Cypher on facebook is near
- Fundamentally Facebook is strong, an established company with very low debt, below 50% debt/assets ratio means is a wealthy company.
- Harmonic Cypher target is near the 173s area (.786 retracement) but could be all around the grey area.
- 5 clear Elliott Waves in this trending wave to the downside could be telling us that the bottom is near.
- RSI 9 is at all-time lows on the weekly chart, a unique opportunity to acquire FB at ridiculous prices.
- Price to earnings ratio at 14.5, is one of the lowest in the sector.
- Nearly 11-13 big ETFs purchased facebook this year. (top 5)
- Earnings and growth on this company are solid, the market at this point is over-reacting.
My opinion is that this is one of the best buying opportunities in 2022, to build a portfolio with one of the best assets in this market. This is not just a trade.
We still didn't see any bottoming candle or structure yet to confirm that it stopped going downwards, let's see how it will react at 175s levels.
- Harmonic Cypher target is near the 173s area (.786 retracement) but could be all around the grey area.
- 5 clear Elliott Waves in this trending wave to the downside could be telling us that the bottom is near.
- RSI 9 is at all-time lows on the weekly chart, a unique opportunity to acquire FB at ridiculous prices.
- Price to earnings ratio at 14.5, is one of the lowest in the sector.
- Nearly 11-13 big ETFs purchased facebook this year. (top 5)
- Earnings and growth on this company are solid, the market at this point is over-reacting.
My opinion is that this is one of the best buying opportunities in 2022, to build a portfolio with one of the best assets in this market. This is not just a trade.
We still didn't see any bottoming candle or structure yet to confirm that it stopped going downwards, let's see how it will react at 175s levels.
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