Facebook, Inc. (NASDAQ:FB) data breach could result in a multibillion-dollar fine by the Federal Trade Commission

Facebook, Inc. (NASDAQ:FB) data breach could result in a multibillion-dollar fine by the Federal Trade Commission

Facebook, Inc. (NASDAQ:FB) data breach could result in a multibillion-dollar fine by the Federal Trade Commission

A Facebook data breach could result in a multibillion-dollar fine by the Federal Trade Commission, but may settle the agency’s investigation into the privacy practices of the social media giant, the Washington Post reported Thursday.

It would be the largest fine the agency has ever imposed on a technology company. Still, the two sides have not yet agreed on an exact amount, the Post article said, which sourced two people familiar with the probe.

Facebook has expressed concerns with the FTC demands. If talks break down, the FTC could take the matter to courts. The company confirmed it is in discussions with the agency over the Facebook data breach. But it declined to comment further, the story said.

Facebook Data Breach Under Scrutiny

Facebook’s handling of user data has been under intense scrutiny since February, when it was revealed political consultant Cambridge Analytica wrongfully accessed personal data from 87 million Facebook users.

The FTC investigation of the Facebook data breach began in March. Facebook has confronted many other accusations of misusing user data since then.

Facebook stock was down 0.2%, near 163.61, during after-hours trading on the stock market today.

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 153.91.

The projected upper bound is: 176.82.

The projected lower bound is: 152.01.

The projected closing price is: 164.42.

Candlesticks

A white body occurred (because prices closed higher 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.

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 14.4649. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a sell 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 61.34. 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 5 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 9. This is not a topping or bottoming area. The last signal was a sell 5 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 1 period(s) ago.

Rex Takasugi – TD Profile

FACEBOOK INC A closed down -0.120 at 163.950. Volume was 50% below average (consolidating)(neutral) and Bollinger Bands were 74% wider than normal.

Open High Low Close Volume___
163.190 164.870 162.247 163.950 12,755,151

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

Moving Averages: 10-period 50-period 200-period
Close: 166.92 146.58 166.90
Volatility: 22 55 49
Volume: 17,282,390 25,183,432 24,452,136

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 1.8% below its 200-period moving average and is in an upward 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 bullish on FB.O and have had this outlook for the last 27 periods.

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