Well, as Yellen likes to say……..it’s that time of the month again. The jobs report is soon upon us, and it probably will provide pretty much all the excitement we need on Friday. Of course, this isn’t always the case. The last jobs report pushed the market a little higher, but not by much, and about a week later, things started falling to pieces (the arrow below marks the report a month ago). Word on the street is that people are expecting a pretty big number, approaching almost 300,000.
Thus, we’re in kind of a state of suspended animation until the report comes out and the market has a little time to digest it. In the meantime, I thought I’d just chime in on a couple of price targets for two big players in the social media space.
For Facebook, the target seems pretty simple – – just above $55. The measured move is $55.32, and that just happens to be almost exactly where the earnings gap is. I’ve provided a green tint to show about where the stock is going to stop falling (for the time being).
Twitter is more of an interesting creature. Unlike Facebook, Twitter is actually within spitting distance of its lifetime low, which I’ve marked with the lower red line you see near the bottom of the chart. Earnings don’t come out for a long while – – not until May 7th – – and just one more good “down” day could send TWTR into uncharted territory. The thing about lifetime lows is that, by definition, it means every single public owner of your stock is in the red. We’re not there yet, but I think we’re going to be, and I don’t have any idea how low TWTR could ultimately go.
See you in the morning, after the jobs report!