Closing Bell Trading Targets: Facebook, Best Buy, Patriot Coal
Facebook (NASDAQ:FB) is losing the battle to sellers and shorts. This morning we told you to watch Facebook’s $32.95 line as the important battle ground of the day. After a false breakout, sellers poured in and overwhelmed little day traders trying to ride a rally into yesterday’s range.
Since then it has been a textbook sell-off. Look out for a test of the day’s lows heading into the close.
Don’t Miss: RED FLAGS: Why Facebook is a BAD Deal?
Best Buy (NYSE:BBY) earnings made some people happy. But traders have been fading the stock most of the day. Keep an eye out for a test at yesterday’s closing price.
Patriot Coal (NYSE:PCX) is getting slammed ~30% today after announcing a new revolving credit facility and term loan facility. The stock has bounced significantly after breaking above the downtrend line from 11:15PM to 1:45PM. This one is a crap shoot going into the closing bell.
Investing Insights: Best Buy Earnings: Is a Turnaround Really in Store?