Facebook Makes New All Time High And Retreats

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Facebook Inc.
FB
shares are trading higher by $.8.30 at $117.19 in Thursday's session. The catalyst for the explosive rally is a Q1 beat for EPS of $0.13 along with a slight beat for revenues. Once the panic buying was ignited in teh after hours and premarket trading it did not end until the issue finally peaked nearly $14 above its closing price ($108.89) at $121.73. However, off the opening bell cooler heads prevailed as the opened at $119.57, rallied to $120.79 before sellers came into the issue. So far, it has been pretty much straight down for the issue and has continued to make new lows for day, with the one current one standing at $116.23. Interestingly, that is in the area of its former all time high at $116.99.
Posted In: TechnicalsIntraday UpdateMoversTrading Ideas
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