Facebook, Inc. (NASDAQ:FB), Amazon and Apple set records in annual spending on lobbying
Facebook Inc., Amazon.com Inc. and Apple Inc. spent record amounts on lobbying in 2019, with Mark Zuckerberg’s social-media company leading the so-called FAANG companies in outlays aimed at influencing Washington, according to disclosures filed late Tuesday.
Facebook FB, -0.70% shelled out $16.7 million last year, well above its 2018 total of $12.6 million, its disclosures show. Amazon AMZN, -0.15% has reported spending $16.1 million in 2019 vs. $14.4 million a year ago, and Apple said it put forth $7.4 million, topping its 2018 outlay of $6.7 million and its 2017 total of $7.2 million.
The spending — which already was on a record pace for some companies after last year’s third quarter — has come as Big Tech increasingly finds itself in lawmakers and regulators’ cross hairs.
A raft of bills aimed at technology companies were introduced in Congress in 2019, addressing privacy, censorship, security, algorithms, children’s issues, facial recognition and other matters. But Capital Alpha Partners analysts have said the “existence of so many disparate critiques complicates making progress on any one issue.”
In addition, the Trump administration’s Justice Department and the Federal Trade Commission have launched antitrust investigations into Big Tech.
An Amazon spokeswoman on Wednesday said the e-commerce titan is “always looking for ways to innovate” for customers, and its Washington, D.C., team is “focused on ensuring we are advocating on issues that are important to our customers, our employees and policy makers.” Facebook and Netflix declined to comment, while Apple and Google didn’t respond to requests for comment.
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 205.67.
The projected upper bound is: 226.84.
The projected lower bound is: 213.84.
The projected closing price is: 220.34.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles. During the past 50 bars, there have been 28 white candles and 22 black candles for a net of 6 white 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 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 50.1777. 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 65.58. This is not a topping or bottoming area. However, the RSI just crossed below 70 from a topping formation. This is a bearish sign. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 0 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 41. This is not a topping or bottoming area. The last signal was a sell 4 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 sell 0 period(s) ago.
Rex Takasugi – TD Profile
FACEBOOK INC A closed down -1.560 at 219.760. Volume was 17% below average (neutral) and Bollinger Bands were 56% wider than normal.
Open High Low Close Volume___
220.750 221.485 219.270 219.760 11,195,000
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 220.49 205.28 191.46
Volatility: 17 20 30
Volume: 12,625,819 12,975,839 14,873,519
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 14.8% above its 200-period moving average and is in an upward trend. Volatility is low as compared to the average volatility over the last 10 periods. 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 67 periods.
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