Facebook, Inc. (NASDAQ:FB) Inclination Toward AR-VR Products

Facebook, Inc. (NASDAQ:FB) Inclination Toward AR-VR Products

Facebook, Inc. (NASDAQ:FB) Inclination Toward AR-VR Products

CTRL-Labs’ technology could be an integral part of a mechanism that allows one to control their movements in augmented reality. In fact, this acquisition marks Facebook’s second such purchase toward developing futuristic technology.

Back in 2014, Facebook had paid $2 billion to acquire Oculus, a virtual reality (VR) company. It is interesting to note that CTRL-Labs’ employees will be part of Facebook’s Reality Labs team, which works on augmented reality and virtual reality products.

It has also been noted that a major reason behind Facebook acquiring such startups is that the company doesn’t have or make this technology at present, but would like to include it in its future endeavors. After all, Facebook is facing tough competition from Amazon.com, Inc. AMZN and Alphabet Inc. GOOGL, both of whom are developing augmented reality products.

In fact, Facebook is already working toward developing its own AR glasses. The company has partnered with Luxottica (maker of Ray-Ban glasses), per a CNBC report. These glasses could reach consumers as early as by 2023.

What’s more, Facebook could be gearing up to use CTRL-Labs’ technology in its AR glasses. The company is also developing an AI voice assistant to assist users with the glasses. The glasses could replace smartphones, letting users attend calls, show information on a small display and live-stream their view to their Facebook connections.

Needless to say, Facebook’s keenness toward developing futuristic products could garner a strong user base seeking to experience the mind-reading technology. This could very well boost the company’s shares in the near future.

Technical Indicators

Overall, the bias in prices is: Downwards.

By the way, prices are vulnerable to a correction towards 185.09.

The projected upper bound is: 188.66.

The projected lower bound is: 170.83.

The projected closing price is: 179.75.

Candlesticks

A black body occurred (because prices closed lower 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 21 white candles and 29 black candles for a net of 8 black candles.

A spinning top occurred (a spinning top is a candle with a small real body). Spinning tops identify a session in which there is little price action (as defined by the difference between the open and the close). During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.

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 67.5372. This is not an overbought or oversold reading. The last signal was a sell 2 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 45.86. 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 62 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 22. This is not a topping or bottoming area. The last signal was a buy 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 1 period(s) ago.

Rex Takasugi – TD Profile

FACEBOOK INC A closed up 0.180 at 180.030. Volume was 39% below average (neutral) and Bollinger Bands were 13% narrower than normal.

Open     High      Low     Close     Volume___
180.320 181.610 179.170 180.030 8,980,978
Technical Outlook 
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish
Moving Averages: 10-period     50-period     200-period
Close: 178.27 184.02 176.68
Volatility: 24 31 37
Volume: 12,271,095 13,193,200 17,211,566

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 1.9% 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 volume flowing into and out of FB.O at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on FB.O and have had this outlook for the last 8 periods.

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