New Facebook Balance Sheet (B/S), Last B/S Published in this blog was in Error!

It happens.  I wanted to see the new Facebook Model Price chart in a hurry.  When Facebook reported their earnings on Thursday night, we manually input the data on Facebook for the Thursday night computer run.  So on Thursday night and Friday morning I have a new FB chart to blog about.  The chart we produced is reproduced below.  This chart is in error.  Not sure what happened but I will get to the bottom of it on Monday morning.

Here is the Facebook chart in error.

Facebook with weekly price bars, EBV Lines (colored lines) and model price (dashed line)

The automatic download occurs usually the following night after the earnings release, in this Facebook instance, on Friday night.  So without a manual update we can be a full trading day behind on a specific chart during “earnings season”.  Most of the time it really doesn’t matter, however in this Facebook instance it really did matter!  My apologies in not getting the chart right the first time.

Here is the new chart on Facebook.

Facebook with weekly price bars, EBV Lines (colored lines) and model price (dashed line)

For those interested, a daily updated chart of FB subsequent to this post will be maintained on Facebook, here.

My New Observations on the New Facebook Chart

I was shocked in my previous blog on Facebook (FB) that FB broke EBV+5. As you can see from the new chart FB has yet to break EBV+5.  This is good news for FB investors.  Irrespective where model price is, EBV+5 should become a strong area of support for Facebook.  As you can see from the new chart above this area of support is $21.48.

Much, which I have written in my previous blog on Facebook I wouldn’t change.  If FB were to break EBV+5, than lower levels are probable. However, I would state that my capitulation trade and my point on price consolidation CAN happen at the EBV+5 level.  Yes, EBV+5 can be that strong a support level!

Anyway, sorry for the error.  Even though our work is very data intensive, and we are crunching millions of pieces of data, data errors are very unusual.  Or errors are usual when humans are inputting the data!

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