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Facebook Put Signal 21 June 2016

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Signal details
Entry Price: 
Close Price: 
Expiry Time: 
20:00 GMT
How we trade
5/5 of 1 ratings

Facebook has managed to briefly rally above one key level today, however the move has proven to be short-lived. The social media company has been on a tear this year, with its stock marking new all time highs before subsiding somewhat. The current trade is rather technical in its nature and this is why we are relying on the chart for our signal.

The move this morning which prompted shares of Facebook to trade above $114.70 and reach as high as $115.20 appears to be fading with the shares of the company being affected by the broad negative market sentiment on Wall Street this morning. Buying daily puts at $114.70 is our preferred strategy for today.

Disclaimer: The article is written for informative purposes only and it is not financial advice. The author does not have any position in the currency pairs mentioned, and no plans to initiate a position. He wrote the article himself and expressed his own opinions. He has no business nor personal relationships with any mentioned government entities or stocks. Readers should not treat any opinion expressed by the author as a specific inducement to make a particular trade or follow a particular strategy, but only as an expression of his opinion.