Facebook, Inc. (NASDAQ:FB) founder and CEO Mark Zuckerburg has reportedly survived a leadership vote
Many of the company’s largest shareholders insisted that Zuckerberg step down as chairman of the board and focus solely on his other role of managing the company’s day-to-day operations.
However, given that the Facebook founder holds 60 percent of the board’s voting power by himself, dissenting shareholders were unlikely to get their way anyway.
Should Mark Zuckerberg Step Down?
Speaking with the BBC, senior vice-president of Trillium Asset Management Jonas Kron expressed concern over Zuckerberg leading two full-time positions.
Given that Facebook is one of the world’s largest companies, Kron suggested that Zuckerberg cede his position at the board to another individual. He also pointed out that Larry Page of Google and Bill Gates of Microsoft both left the board position to an individual better equipped for the task.
Trillium Asset Management is a major shareholder of the company, with approximately $7 million worth of Facebook stock to its name.
Overall, the bias in prices is: Downwards.
The projected upper bound is: 186.18.
The projected lower bound is: 169.24.
The projected closing price is: 177.71.
A big black candle occurred. This is bearish, as prices closed significantly lower than they opened. If the candle appears when prices are “high,” it may be the first sign of a top. If it occurs when prices are confronting an overhead resistance area (e.g., a moving average, trendline, or price resistance level), the long black candle adds credibility to the resistance. Similarly, if the candle appears as prices break below a support area, the long black candle confirms the failure of the support area.
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 25 white candles and 24 black candles for a net of 1 white candles.
A falling window occurred (where the bottom of the previous shadow is above the top of the current shadow). This usually implies a continuation of a bearish trend. The two candles preceding the falling window were black, which makes this pattern even more bearish.
Three black candles occurred in the last three days. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.
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 31.3774. This is not an overbought or oversold reading. The last signal was a sell 25 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 40.15. 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 17 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 -185.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a buy 4 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 sell 17 period(s) ago.
Rex Takasugi – TD Profile
FACEBOOK INC A closed down -5.540 at 177.470. Volume was 13% below average (neutral) and Bollinger Bands were 22% narrower than normal.
Open High Low Close Volume___
180.280 180.540 177.160 177.470 15,226,536
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 182.71 180.95 161.47
Volatility: 28 29 40
Volume: 11,057,956 15,289,047 21,903,356
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 gapped down today (bearish) on normal volume. Possibility of a Runaway Gap which usually signifies a continuation of the trend. Four types of price gaps exist – Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.
FACEBOOK INC A is currently 9.9% 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 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 9 periods.
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