Downward Pressure on Facebook (NASDAQ:FB) Stock Won’t Relent Anytime Soon

Downward Pressure on Facebook (NASDAQ:FB) Stock Won’t Relent Anytime Soon

$FB #Facebook #SocialMedia #USA #Nasdaq #Stocks #Trading #Markets

Facebook
Ticker: NASDAQ:FB
Price: $268.09
Recommendation: Sell

Business Summary

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.

Price Performance

Relative Valuation

Technical Indicators

Overall, the bias in prices is: Upwards.

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

By the way, prices are vulnerable to a correction towards 256.89.

The projected upper bound is: 289.14.

The projected lower bound is: 248.68.

The projected closing price is: 268.91.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 2 white candles and 8 black candles for a net of 6 black candles. During the past 50 bars, there have been 24 white candles and 26 black candles for a net of 2 black candles.

Three black candles occurred in the last three days. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.

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 7.1750. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a sell 7 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 46.88. 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 4 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 -83. This is not a topping or bottoming area. The last signal was a sell 6 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 sell 3 period(s) ago.

Rex Takasugi – TD Profile

FACEBOOK INC A closed down -5.630 at 268.090. Volume was 2% below average (neutral) and Bollinger Bands were 49% wider than normal.

Open     High     Low      Close      Volume
275.510  279.160  267.032  268.090    24,814,668
Technical Outlook
Short Term:        Oversold
Intermediate Term: Bullish
Long Term:         Bullish
Moving Averages: 10-period     50-period      200-period
Close:           286.48        257.84         216.13
Volatility:      42            48             56
Volume:          24,170,630    25,377,434     22,546,730

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 24.0% 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 27 periods. our momentum oscillator has set a new 14-period low while the security price has not. This is a bearish divergence.

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