Facebook, Inc. (NASDAQ:FB) agreed to pay a $5 billion fine
Facebook (NASDAQ: FB ) saw its user privacy scandal finally come to a tepid conclusion last week. The company agreed to pay a $5 billion fine, the largest fine ever given by the Federal Trade Commission.
Facebook also dealt with regulatory opposition over its plans to launch the cryptocurrency Libra. Both situations sound serious, but they will likely have little effect on Facebook’s stock going forward.
The tech company continues to grow and these regulatory issues will prove to be no more than a blip on its radar. Facebook’s shares are up more than 55% year-to-date and the company has made up for nearly all of its 2018 losses.
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 189.36.
The projected upper bound is: 211.13.
The projected lower bound is: 190.87.
The projected closing price is: 201.00.
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 30 white candles and 20 black candles for a net of 10 white candles.
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.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 47.2213. This is not an overbought or oversold reading. The last signal was a sell 1 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 62.12. 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 3 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 37. This is not a topping or bottoming area. The last signal was a sell 1 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 25 period(s) ago.
Rex Takasugi – TD Profile
FACEBOOK INC A closed down -1.020 at 200.780. Volume was 29% below average (neutral) and Bollinger Bands were 6% narrower than normal.
Open High Low Close Volume___
200.150 202.470 199.380 200.780 11,956,554
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 201.05 187.01 164.67
Volatility: 20 36 42
Volume: 13,740,632 16,202,559 20,918,512
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.
FACEBOOK INC A is currently 21.9% above its 200-period moving average and is in an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. Our volume indicators reflect moderate flows of volume into FB.O (mildly bullish). Our trend forecasting oscillators are currently bullish on FB.O and have had this outlook for the last 19 periods. our momentum oscillator has set a new 14-period low while the security price has not. This is a bearish divergence.