Facebook, Inc. (NASDAQ:FB) has acted well in recent months despite ongoing privacy investigations and could test 2018’s all-time high at $219

Facebook, Inc. (NASDAQ:FB) has acted well in recent months despite ongoing privacy investigations and could test 2018’s all-time high at $219

Facebook, Inc. (NASDAQ:FB) has acted well in recent months despite ongoing privacy investigations and could test 2018’s all-time high at $219

Facebook, Inc. (FB) stock has acted well in recent months despite ongoing privacy investigations and could test 2018’s all-time high at $219 in the third quarter. In addition, it won’t take extraordinary buying power to hit new highs and head toward $250, potentially making Facebook the first FAANG play to break out in 2019. That would provide a much-needed lift to rest of this elite group, although these stocks may still struggle to hit new highs in this economic cycle.

Facebook just announced the Libra cryptocurrency initiative, in which the new digital coin will be integrated into existing customer accounts. This should give the social media giant a profitable head start on mainstreaming digital coins into traditional payment systems, an inevitable development in world banking systems in coming years. The news caught bears by surprise, lifting the stock while putting a fire under the rest of this esoteric venue. 

Of course, it’s popular to hate Facebook, Mark Zuckerberg, and the social monster they’ve created in the past decade, but active user numbers have held up well despite the long string of controversies and misfires. And unfortunately, this operation has become too big to fail in our futuristic environment, with millions of individuals and companies dependent on Facebook’s interactive applications to maintain personal relationships and grow businesses.

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 182.80.

The projected upper bound is: 206.36.

The projected lower bound is: 184.18.

The projected closing price is: 195.27.

Candlesticks

A white body occurred (because prices closed higher 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 27 white candles and 23 black candles for a net of 4 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 84.3432. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 9 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 64.71. 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 20 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 111.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. 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 buy 14 period(s) ago.

Rex Takasugi – TD Profile

FACEBOOK INC A closed up 2.000 at 195.000. Volume was 48% below average (neutral) and Bollinger Bands were 53% wider than normal.

Open High Low Close Volume___
193.000 195.000 192.710 195.000 9,049,979

Technical Outlook
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period     50-period     200-period
Close: 190.77 184.93 162.66
Volatility: 20 39 42
Volume: 15,466,438 18,262,188 21,597,404

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 19.9% above its 200-period moving average and is in an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. Our volume indicators reflect very strong flows of volume into FB.O (bullish). Our trend forecasting oscillators are currently bullish on FB.O and have had this outlook for the last 8 periods.

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