Facebook, Inc. (NASDAQ:FB) has published an informational blog post about how its app collects and uses background location data from smartphones

Facebook, Inc. (NASDAQ:FB) has published an informational blog post about how its app collects and uses background location data from smartphones

Facebook, Inc. (NASDAQ:FB) has published an informational blog post about how its app collects and uses background location data from smartphones

Less than two weeks before a likely iOS software update that will give iPhone users regular pop-ups telling them which apps are collecting information location in the background, Facebook has published a blog post about how the Facebook app uses location data.

The blog post appears to be a way to get out in front of software changes made by Apple and Google that could unsettle Facebook users given the company’s poor reputation for privacy.

“Your Android or iOS location settings allow you to control when you share your device’s precise location with apps like Facebook,” a Facebook engineering director wrote in a blog post. “That’s why we’re letting you know that Android and iOS have released new versions of their operating systems, which include updates to how you can view and manage your location.”

iOS 13, the forthcoming version of the iPhone software, will provide a pop-up that informs users about how many times an individual app has used background location over the past few days. Background location can be useful for many apps like maps or for Facebook functions like check-ins, but it can also be abused by app makers to collect data against the wishes of its users.

That means that some Facebook users may soon be confronted with an Apple-created pop-up telling them that Facebook has used their location in the background some number of times over the past few days, and including a map marking where Facebook asked the phone for its coordinates.

The Facebook blog post also addressed Android, which also has new location features in its latest version, 10.

“If you decide to update to Android 10, you’ll have the option to allow individual apps to access your precise location, either while you’re using the app or when you’re not,” according to Facebook.

Facebook and Apple representatives didn’t immediately return requests for comment. Facebook’s blog post also added that it might collect location information through alternative methods even if users turn off location settings on their device.

“We may still understand your location using things like check-ins, events and information about your internet connection,” according to Facebook’s blog post.

Technical Indicators

Overall, the bias in prices is: Sideways.

The projected upper bound is: 197.84.

The projected lower bound is: 179.65.

The projected closing price is: 188.75.

Candlesticks

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 24 white candles and 26 black candles for a net of 2 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 75.0270. 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 53.08. 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 39 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 98. This is not a topping or bottoming area. The last signal was a sell 0 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 6 period(s) ago.

Rex Takasugi – TD Profile

FACEBOOK INC A closed up 1.270 at 188.760. Volume was 6% below average (neutral) and Bollinger Bands were 45% narrower than normal.

Open     High      Low     Close     Volume___
187.730 188.980 185.847 188.760 14,722,402
Technical Outlook 
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period     50-period     200-period
Close: 185.13 191.59 171.45
Volatility: 27 31 40
Volume: 11,845,483 14,551,374 18,937,582

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 10.1% above its 200-period moving average and is in an upward trend. Volatility is relatively normal 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 0 periods.

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