Facebook, Inc. (NASDAQ:FB) charged by the U.S. Department of Housing and Urban Development with violating the Fair Housing Act

Facebook, Inc. (NASDAQ:FB) charged by the U.S. Department of Housing and Urban Development with violating the Fair Housing Act

Facebook, Inc. (NASDAQ:FB) charged by the U.S. Department of Housing and Urban Development with violating the Fair Housing Act

Shares of Facebook Inc. FB, -0.19% fell 0.9% in premarket trade Thursday, after the social media giant was charged by the U.S. Department of Housing and Urban Development with violating the Fair Housing Act, by “encouraging, enabling and causing housing discrimination” through its advertising platform.

HUD’s charge follows an investigation of a complaint filed in August 2018. “Facebook is discriminating against people based upon who they are and where they live,” said HUD Secretary Ben Carson. “Using a computer to limit a person’s housing choices can be just as discriminatory as slamming a door in someone’s face.” Facebook’s stock has rallied 26.5% year to date through Wednesday, while the S&P 500 SPX, +0.36% has climbed 11.9%.

Overall, the bias in prices is: Upwards.

The projected upper bound is: 175.91.

The projected lower bound is: 155.85.

The projected closing price is: 165.88.

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 26 white candles and 24 black candles for a net of 2 white candles.

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 59.9740. This is not an overbought or oversold reading. The last signal was a buy 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 50.74. 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 34 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 -36. This is not a topping or bottoming area. The last signal was a buy 7 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 9 period(s) ago.

Rex Takasugi – TD Profile

FACEBOOK INC A closed down -0.320 at 165.550. Volume was 54% below average (consolidating) and Bollinger Bands were 37% narrower than normal.

Open High Low Close Volume___
164.570 166.720 163.330 165.550 10,689,171

Technical Outlook
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish

Moving Averages: 10-period 50-period 200-period
Close: 164.93 162.44 164.13
Volatility: 32 40 49
Volume: 20,246,396 19,649,498 24,359,802

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 0.9% above its 200-period moving average and is in an downward trend. Volatility is relatively normal 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 7 periods.

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