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Facebook Trade, Why we bought this stock!

Contrarian Position: Facebook (FB) made us 30% profits. Although the majority of the people thought that Facebook was only good for shorting since their fall from its IPO start. In between, FB came up with various services that investors liked. We always kept our eye on it to find the bottom of the stock. FB’s lowest was $ 17.55 on sept 4, 2012, after that day FB created higher highs and higher lows. Furthermore, FB created a double bottom formation which is a bullish sign on Oct. 23rd, 2012 and Nov. 12th, 2012. After that bottom was held, FB continued its bullish move $ 32.21. I traded FB as a day trading stock, I took profits along the way, bought at $20 sold at $23- a 15% profit, then entered again at $27, exited at $30- 15%, a total 30% in a month+. FB kept moving higher to $ 32 which can be seen in the Facebook image in details!

All of the trade results above are illustrations of the principle.