Facebook Inc (NASDAQ:FB) Slammed for Selling Fake News

Facebook Inc (NASDAQ:FB) Slammed for Selling Fake News

Facebook Inc (NASDAQ:FB) Slammed for Selling Fake News

  • “I make money from Facebook for my fake content in order to pay Facebook to promote my fake stories,” said Professor Chaos in one of the most brutal and succinct criticisms of the social network to date. The latest episode of South Park pulled no punches in its take-down of the Facebook fake news scandal. It poses Mark Zuckerberg as an indecipherable bully protecting fake news spreaders for profit and says kids can’t recognize lies on the app, while blaming everyone for allowing Facebook so deep into our lives.
  • Meanwhile, the episode pokes fun at Netflix for greenlighting low-quality original series, and riffs on the horrible abuse of women by Hollywood mogul Harvey Weinstein.
  • South Park’s intense, episode-long focus on Facebook’s fake news problems underlines the severity of the mainstream backlash. The blunt characterization of Facebook and Zuckerberg, and the direct harm fake news has on the show’s protagonists, could force the company to see its actions and explanations through the lens of the public.

Facebook, Inc. is focused on building products that enable people to connect and share through mobile devices, personal computers and other surfaces. The Company’s products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook enables people to connect, share, discover and communicate with each other on mobile devices and personal computers. Instagram enables people to take photos or videos, customize them with filter effects, and share them with friends and followers in a photo feed or send them directly to friends. Messenger allows communicating with people and businesses alike across a range of platforms and devices. WhatsApp Messenger is a messaging application that is used by people around the world and is available on a range of mobile platforms. Its Oculus virtual reality technology and content platform offers products that allow people to enter an interactive environment to play games, consume content and connect with others.

Overall, the bias in prices is: Upwards.

Short term: Prices are stalling.

Intermediate term: Prices are ranging.

The projected upper bound is: 178.36.

The projected lower bound is: 166.87.

The projected closing price is: 172.62.

FACEBOOK INC A closed down -0.190 at 172.550. Volume was 38% below average (neutral) and Bollinger Bands were 8% narrower than normal.

Open          High            Low            Close          Volume
172.610      173.850      172.290      172.550      10,351,044

Technical Outlook
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period          50-period        200-period
Close:                       171.16                170.08              150.27
Volatility:                15                       22                     20
Volume:                   12,430,209      13,711,894      16,889,198

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

FACEBOOK INC A is currently 14.8% above its 200-period moving average and is in an upward trend. Volatility is high as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of FB.O at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on FB.O and have had this outlook for the last 4 periods.

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 56.8889. This is not an overbought or oversold reading. The last signal was a buy 11 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 55.96. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 46 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 98. This is not a topping or bottoming area. The last signal was a sell 2 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 5 period(s) ago.

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John Heffernan

John Heffernan is a Junior Analyst at HEFFX. John is studying Economics and is a contributor on equities at Live Trading News.

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