Steve Cortes, founder of Veracruz TJM, sees Facebook Inc’s (NASDAQ:FB) long-term outlook as being dim because it may be starting to alienate its original target audience – young people.
“Other than the fact that [the stock] is expensive, is the fact that young people are increasingly gravitating away from Facebook,” says Cortes. “If you talk to people in their teens and twenties, they view Facebook as something for old people.”
Andrew Busch, author and publisher of The Busch Update, doesn’t think Facebook has all that great of an upside ahead for it. ”When I see these kinds of patterns, I’m not a big fan of Facebook,” says Busch. However, Busch sees a possible trading range for the stock for those wishing to trade in and out of the stock.
To see the rest of Cortes’ fundamental analysis and the technical levels Busch says traders should know, watch the video below:
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