If Facebook hits this level it's a 'straight shot' back to the highs, says technician $FB (via TradingNation)
. While Libra is not expected to launch until the first half of 2020, the Street is already thinking about the impact this latest venture could have on the company's bottom line.
"The chart looks pretty good. Obviously had a horrendous second half of the year last year when it got absolutely clobbered, but it broke above ... its six month trendline at the beginning of the year, so that was positive," he said. "If it can break above that [$195] it's going to be a kind of straight shot up to its all-time highs I think. ... So the key is even though the stock's rallied 50% off its low from late last year, it still has double-digit percentage upside potential if it can break above that key $195 resistance level."
"The privacy issues, the governance issues at that company are somewhat troubling to me. But I actually think this was a very clever move. We had argued that blockchain would solve some of the privacy problem, just in the market in general, and they've basically adapted that technology," she said Tuesday on CNBC'sShe also called the decision to differentiate the cryptocurrency from Facebook itself — through distinct branding — "wise.
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