Facebook, Inc. (NASDAQ:FB) analysts are sensing a rebound
Back in 2012, before breaking out, Facebook’s IPO was heavily scrutinised and due to this the company witnessed a weak period. Then things suddenly changed for the better in Q2 2013, when Facebook made a huge comeback with its mobile advertising reaching $656 million.
In Q2 2013, total revenues reached $1.8bn and since then for the most part, the stock had done nothing but climb steadily. Total revenue was at $13.2bn in Q2 this year and in Q3 2018 it was $13.7bn.
All the FAANG (Facebook, Apple, Amazon, Netflix and Google) stocks have been suffering through October. Amazon and Alphabet both missed revenue estimates last week and investors are also concerned as to why Amazon forecast lower sales for its normally bustling holiday season fourth quarter. Comparatively, Facebook’s story might not be so bad.
Overall, the bias in prices is: Downwards.
Note: this chart shows extraordinary price action to the downside.
The projected upper bound is: 157.35.
The projected lower bound is: 138.98.
The projected closing price is: 148.16.
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 24 white candles and 26 black candles for a net of 2 black 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 64.1621. This is not an overbought or oversold reading. The last signal was a buy 5 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 42.38. 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 buy 40 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 -42. This is not a topping or bottoming area. The last signal was a buy 3 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 2 period(s) ago.
Rex Takasugi – TD Profile
FACEBOOK INC A closed down -1.670 at 148.680. Volume was 40% below average (neutral) and Bollinger Bands were 34% narrower than normal.
Open High Low Close Volume___
150.100 150.190 147.440 148.680 15,969,849
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 148.76 160.07 176.74
Volatility: 55 37 47
Volume: 30,853,428 25,680,542 28,065,732
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 15.9% below its 200-period moving average and is in an downward 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 bearish on FB.O and have had this outlook for the last 31 periods.