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Here we are on March 15, 2017 and FB still is pushing into new highs. Yes, there is not a large amount of volume, but there is good news to go with the highs. First, it is coming off an early (Stage 1) base and is just outside the 5% buy range. Second, it just got through a tight pattern (where you should have added or bought). Finally, the numbers last quarter were above expectations and very healthy. Dare I mention that SNAP came public last week and has gone lower since? That is likely because SNAP doesn't really have a moat and FB is duplicating its desired features. Also, teenagers, the main users of SNAP, aren't notorious for spending a lot of money online and thus, advertisers will stay with proven platforms like FB and GOOGL.
There is a good chance that we look back in a few years and wonder why we didn't see this pattern. Do you see what I see?
I am not sure if you can count the last base as stage 1 base because this is just a character of stock to make a small progress from base to base. Also, there are no big blue weeks in base showing accumulation, RS line is lagging ( at the moment of a breakout it was 61), and even now when the price is at a new high, RS line is not. Also, do not forget that this is an old story as well, and everyone follows this stock. But it is just my opinion.
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