Before this collapse is over I expect FB to trade at $20 or less and if Zuckerberg doesn't start conserving cash immediately he might even BK this worthless, zero economic value add POS of a company.
Friday, April 4, 2014
Facebook is in 3rd wave freefall.
As modeled in this post, FB continues to plunge. Look at how wave 1 broke back into the ending diagonal but did not have the power to break through the lower support rail. Then wave 2 up as expected gave wave 3 down a running start to absolutely crush that support level. Now it has reached a lower low than wave 1 so I think wave 3 down is now fully confirmed. Expect it to be very painful to longs who bought into the social media Ponzi.
Before this collapse is over I expect FB to trade at $20 or less and if Zuckerberg doesn't start conserving cash immediately he might even BK this worthless, zero economic value add POS of a company.
Before this collapse is over I expect FB to trade at $20 or less and if Zuckerberg doesn't start conserving cash immediately he might even BK this worthless, zero economic value add POS of a company.
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