Facebook, Inc. (NASDAQ:FB) Falls As Instagram Founders Exit
Dow futures indicated solid gains at Tuesday’s open, along with S&P 500 futures and Nasdaq futures. Facebook stock fell in the premarket after the co-founders of its Instagram unit exited, reportedly amid friction with Facebook (FB) CEO Mark Zuckerberg.
Nvidia (NVDA) indicated a move back near a buy point as an analyst said Nvidia stock is its top pick in gaming graphics cards. Meanwhile, Dow Jones component Nike (NKE) is on tap with earnings tonight, with Nike stock dipping back into buy range on Monday. Finally, Michael Kors (KORS) said it will change its name to Capri Holdings as it confirmed a $2.12 billion deal to buy Italian luxury brand Versace.
Overall, the bias in prices is: Downwards.
Note: this chart shows extraordinary price action to the downside.
By the way, prices are vulnerable to a correction towards 175.76.
The projected upper bound is: 182.99.
The projected lower bound is: 145.13.
The projected closing price is: 164.06.
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 25 white candles and 25 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 65.3610. 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 43.01. 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 11 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 43. This is not a topping or bottoming area. The last signal was a buy 10 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 4 period(s) ago.
Rex Takasugi – TD Profile
FACEBOOK INC A closed down -0.500 at 164.910. Volume was 16% above average (neutral) and Bollinger Bands were 18% narrower than normal.
Open High Low Close Volume___
161.990 165.590 161.150 164.910 27,622,806
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 162.89 177.61 180.47
Volatility: 27 63 45
Volume: 24,617,822 29,325,712 26,875,616
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 8.6% below 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 moderate flows of volume out of FB.O (mildly bearish). Our trend forecasting oscillators are currently bearish on FB.O and have had this outlook for the last 2 periods.
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