Facebook (NASDAQ:FB) Rose Over 11% This Week!

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Facebook
Ticker: NASDAQ:FB
Price: $294.68

Facebook News

Even though President Trump and Democratic nominee Joe Biden are still battling over the 2020 election,  Facebook CEO Mark Zuckerberg could be considered a winner in his own way.

Rising expectations that Republicans can hold onto the Senate are easing investors’ worries that a Democratic-controlled Washington would beef up antitrust laws and go after Big Tech more aggressively.

Apple climbed 3.5%, Microsoft rose 3.2%, and Amazon added 2.5%. Facebook gained 2.5% and Google’s parent company rose 1%. They’re also the five biggest stocks in the S&P 500 by market value.

Shares in cannabis companies marched higher after voters in several states cleared the way for sales of legal marijuana for adult or medical use. Tilray jumped 30.3%, though the stock is still down 54.4% so far this year.

Broadly, markets are seeing split control of Congress as a case of what Mizuho Bank calls “Goldilocks Gridlock.”

Investors see cause for optimism if either Biden or President Donald Trump ultimately wins the presidency, and what they want most of all is just for a clear winner to emerge. Stocks “fear uncertainty rather than the actual outcome.”

Business Summary

Facebook continues to confront election rated censorship controversies. However, it remains a staple in technology and a blue-chip stock with enticing upside.

Our AI systems rated Facebook C in Technicals, B in Growth, B in Low Volatility Momentum, and B in Quality Value. The stock closed down 6.31% to $263.11 on volume of 47,299,002 vs its 10-day price average of $274.26 and its 22-day price average of $269.78, and is up 25.42% for the year.

Revenue grew by 11.71% in the last fiscal year and grew by 94.27% over the last three fiscal years, Operating Income grew by 19.88% in the last fiscal year and grew by 42.33% over the last three fiscal years, EPS grew by 36.52% in the last fiscal year and grew by 62.85% over the last three fiscal years.

Revenue was $70697.0M in the last fiscal year compared to $40653.0M three years ago, Operating Income was $23986.0M in the last fiscal year compared to $20203.0M three years ago, EPS was $6.43 in the last fiscal year compared to $5.39 three years ago, and ROE was 19.96% in the last year compared to 23.86% three years ago.

Forward 12M Revenue is expected to grow by 16.71% over the next 12 months, and the stock is trading with a Forward 12M P/E of 26.3.

Price Performance

Relative Valuation

Technical Indicators

Overall, the bias in prices is: Upwards.

Note: this chart shows extraordinary price action to the upside.

The projected upper bound is: 317.11.

The projected lower bound is: 271.88.

The projected closing price is: 294.50.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 19 white candles and 31 black candles for a net of 12 black candles.

A rising window occurred (where the top of the previous shadow is below the bottom of the current shadow). This usually implies a continuation of a bullish trend. There have been 4 rising windows in the last 50 candles–this makes the current rising window even more bullish.

Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.

Momentum Indicators

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 76.9561. This is not an overbought or oversold reading. The last signal was a sell 6 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 61.37. 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 44 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 153.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 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 0 period(s) ago.

Rex Takasugi – TD Profile

FACEBOOK INC A closed up 7.300 at 294.680. Volume was 0% below average (neutral) and Bollinger Bands were 9% narrower than normal.

Open     High    Low      Close     Volume
291.897 297.380  288.950  294.680   23,823,632
Technical Outlook
Short Term:        Neutral
Intermediate Term: Bullish
Long Term:         Bullish
Moving Averages: 10-period     50-period      200-period
Close:           276.55        270.43         227.88
Volatility:      82            53             60
Volume:          26,224,984    22,449,804     24,344,492

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 gapped up today (bullish) on normal volume. Possibility of a Runaway Gap which usually signifies a continuation of the trend. Four types of price gaps exist – Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.

FACEBOOK INC A is currently 29.3% above its 200-period moving average and is in an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. 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 11 periods. The security price has set a new 14-period high while our momentum oscillator has not. This is a bearish divergence.

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