Editor’s Note: Today we’re presenting an actionable trade idea from Chief Technical Analyst Evan Lazarus. To learn more about trading momentum stocks, please claim your free membership to Chart Trader. Click here now for immediate access.
A very wise and wealthy trader once told me, “If you want to make money trading, just buy the market leaders with bullish chart patterns. Everything else is for the birds.”
I can tell you firsthand that this is great advice.
Just look at the wealth that’s been created by market leaders in the last 10 years or so. Apple (NASDAQ: AAPL), Amazon (NASDAQ: AMZN), Facebook (NASDAQ: FB) and Netflix (NASDAQ: NFLX) have handed investors huge profits.
For active traders, these momentum stocks are among the best to trade. And Facebook stock today is setting up to move higher in the near term.
Facebook has been a market leader for several years. The stock continues to slowly push higher month-over-month. And it looks like this trend is going to continue.
In the above video I explain what the Facebook stock chart is showing. Plus, I explain when to buy Facebook stock – and when to exit the trade.
I’d also like to invite you to join my brand new e-letter, called Chart Trader. It’s 100% free, and gives you access to actionable trade ideas on stocks including Amazon, Facebook and Netflix.
Plus, I’ve prepared a free special report called “Top 5 Golden Rules for Stock Traders.” Click here for immediate access.