Why Scott Redler Thinks Facebook Could Rise Above $100 In 2015
Scott Redler is a weekly guest on #PreMarket Prep, a daily trading idea radio show hosted by Joel Elconin and Dennis Dick./em>
T3 Trading Group Chief Strategist Scott Redler discussed Facebook Inc (NASDAQ: FB) on the show.
Ahead of the company’s earnings release, Redler said he would likely buy $84 Calls on the stock and noted that if the shares could stay above $84 after the earnings announcement, they may move to $86.
While Facebook had doubled since its IPO, Redler thought there was “a lot of life left” in the stock and that it could rise beyond $90 or $100 in 2015.
Over the longer term, Redler was bullish on the company and felt that there was “a lot of money behind [Facebook]” as evidenced by the stock's very strong trendline since going public.
Facebook reports Q1 earnings on Wednesday and recently traded at $82.79, up 2.50 percent.
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