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Dr. Thomas Carr
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Dr. Thomas K. Carr (aka “Dr Stoxx”) is the Founder of DrStoxx.com (formerly “Befriend the Trend Trading”). He holds M.Phil. and D.Phil. degrees from the University of Oxford. For 16 years he was a tenured professor and department chair. He currently is a fulltime trader, market analyst, trading... More
My company:
DrStoxx.com
My blog:
DrStoxx.com
My book:
Market-Neutral Trading
  • Spotting The Early Entry In Facebook Breakout 0 comments
    Dec 17, 2013 12:09 PM | about stocks: FB

    The chart below tells the story: on $FB's pullback, bullish volume started to accumulate shares prior to share price hitting its lows. The On Balance Volume indicator gave the early cue to get long before institutional money began to drive the price into its breakout pivot:

    (click to enlarge)

    Watch the $55 price level here. A bearish rejection would signal another several weeks of subpar performance. But a close above $55 should see $FB shares rally sharply higher. Momentum is currently on the side of a breakout.

    Disclosure: I am long FB.

    Themes: Facebook, breakout, OBV Stocks: FB
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