Ever since FB reported its latest quarterly earnings, the composure of its stock price action has changed. It has surprised lot of traders that do not believe FB could move back into its IPO price of $38 this quickly. Now many of these traders are waiting for a pullback to buy in. The most likely scenario is those that have missed the initial move will end up chasing the high as FB run toward the IPO high near $45.
Here is a detail look at how FB might reach the 40s if the recent uptrend is to continue.
Click here to view the video if you do not see a video player on your screen.
Disclosure: Long FB
