$Facebook(FB)$steadily moving higher wave

From the start of August through February, shares of the social media platform have popped 15.1% in the past two weeks and are closing in on their record highs. I feel that the believe - combination of solid internal and external factors are at play here and investors with cash  waiting on the sidelines could do worse than taking them into consideration this week.

wW have this enormous  above $800 b company that's still managing to report revenue growth above 31% year on year whilst also smashing analyst expectations year in year out. That is impressive by any measure but all the more so for a company of Facebook's size and one that is just come through the pandemic. A pandemic so big and vast hat if anything, they're coming out of stronger than when they went in. 

This optimistic outlook is shared by Deutsche Bank who increased their price target on Facebook shares recently, moving it from $355 to $385 ?. Considering the stock's all time high of $304 is within touching distance right now ?, Deutsche Analyst are obviously expecting big things with that implied upside of 30% from Monday's closing price. 

Increasing their Q1 and full year estimates, pointing to more confidence on the back of positive feedback from the ad community, multiple encouraging data sets on ad prices.

Facebook remains a shining light and aspiration for what many tech companies wish to be. With a much lower debt profile than even most of the rest of the FAANG group of stocks, Facebook is fairly well insulated from the higher rates

The weakness prevalent in tech over the past month has undoubtedly held Facebook shares back, as there is just too much going for them right now to not be in a solid rally. But as the Nasdaq tries to consolidate after its correction and a higher rate environment soon continues to become the norm, fairly valued tech stocks like Facebook with solid momentum and fundamental should continue to do well.

As shares start to move off multi-month support and test the lower end of their multi-month resistance, it is an interesting time to be considering a position. I feel position at current prices and then targeted to that if they clear $300 easily enough, and alternatively you could look for a final retest of support around the $260 line.

What do you feel about facebook? Pls leave a comment and view. Do also like this, if you are supportive of facebook dev.