Facebook, Inc. (NASDAQ:FB) company has uncovered emails linking CEO Mark Zuckerberg to the social media giant’s controversial privacy practices

Facebook, Inc. (NASDAQ:FB) company has uncovered emails linking CEO Mark Zuckerberg to the social media giant’s controversial privacy practices

Facebook, Inc. (NASDAQ:FB) company has uncovered emails linking CEO Mark Zuckerberg to the social media giant’s controversial privacy practices

Facebook stock dipped on a Wall Street Journal report that the company has uncovered emails linking CEO Mark Zuckerberg to the social media giant’s controversial privacy practices.

Shares were down more than 2% following the news. The report says employees at the company are concerned that the emails could come under scrutiny during an investigation from the Federal Trade Commission.

The FTC is investigating whether security lapses related to the Cambridge Analytica scandal violated a 2012 consent decree between the agency and Facebook, according to the report.

The emails, which were described to the Journal reporters but not seen, reportedly show that Zuckerberg raised questions about how the company was sharing data with third-party developers, suggesting he knew of potential problems.

In an e-mailed statement, a Facebook spokesperson said, “We have fully cooperated with the FTC’s investigation to date and provided tens of thousands of documents, emails and files. We are continuing to work with them and hope to bring this matter to an appropriate resolution. Facebook and its executives, including Mark, at all times strive to comply with all applicable law, and at no point did Mark or any other Facebook employee knowingly violate the company’s obligations under the FTC consent order.”

Overall, the bias in prices is: Downwards.

The projected upper bound is: 185.72.

The projected lower bound is: 164.61.

The projected closing price is: 175.17.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 24 white candles and 25 black candles for a net of 1 black 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 78.1472. This is not an overbought or oversold reading. The last signal was a sell 0 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 45.67. 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 6 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 0. This is not a topping or bottoming area. The last signal was a buy 3 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 buy 0 period(s) ago.

Rex Takasugi – TD Profile

FACEBOOK INC A closed down -3.060 at 175.040. Volume was 4% above average (neutral) and Bollinger Bands were 20% wider than normal.

Open High Low Close Volume___
178.380 179.270 172.880 175.040 17,699,806

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

Moving Averages: 10-period 50-period 200-period
Close: 172.99 181.72 161.32
Volatility: 57 38 42
Volume: 22,276,832 17,151,698 21,976,100

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 8.5% above 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 17 periods.

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