Facebook, Inc. (NASDAQ:FB) investors are trying to oust Mark Zuckerberg as chairman

Facebook, Inc. (NASDAQ:FB) investors are trying to oust Mark Zuckerberg as chairman

Facebook, Inc. (NASDAQ:FB) investors are trying to oust Mark Zuckerberg as chairman

Facebook investors are trying to oust Mark Zuckerberg as chairman and also rid themselves of the company’s share structure. 

In a Securities and Exchange Commission filing from Friday, the company listed the various proposals that will be tabled during the May 30th annual shareholding meeting.

Included in the eight stockholder proposals are two that attempt to create noticeable change at Facebook, Business Insider reports.  

One of the proposals – ‘Stockholder Proposal Regarding an Independent Chair’ – posits that an independent executive be hired to replace Zuckerberg as Facebook’s chairman. 

Facebook has asked for its investors to vote the proposal down. 

Investors controlling roughly $3billion of Facebook stock support the measure but it still has a large probability of not gaining ground.  

The issue stems from Facebook’s dual-class share structure – they allow their Class B shares to have 10 times the voting power of their Class A shares. 

Zuckerberg owns roughly 75percent of the class B stock. 

The exceptional power is part of the second proposal’s aim to squash. It calls for ‘fair and appropriate mechanisms through which disproportionate rights of Class B shareholders could be eliminated.’

It added: ‘Fake news, election interference, and threats to our democracy — shareholders need more than deny, deflect, and delay. We urge shareholders to vote FOR a recapitalization plan for all outstanding stock to have one vote per share.’

Facebook has also called for its investors to strike down that proposal.  

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 166.87.

The projected upper bound is: 186.22.

The projected lower bound is: 172.48.

The projected closing price is: 179.35.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 4 white candles and 5 black candles for a net of 1 black candles. During the past 50 bars, there have been 25 white candles and 24 black candles for a net of 1 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 76.6319. This is not an overbought or oversold reading. The last signal was a sell 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 68.22. 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 45 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 91. This is not a topping or bottoming area. The last signal was a sell 2 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 8 period(s) ago.

Rex Takasugi – TD Profile

FACEBOOK INC A closed up 1.590 at 179.100. Volume was 42% below average (neutral) and Bollinger Bands were 3% wider than normal.

Open High Low Close Volume___
178.000 179.630 177.950 179.100 12,329,812

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

Moving Averages: 10-period 50-period 200-period
Close: 175.51 168.04 162.87
Volatility: 21 26 49
Volume: 14,851,060 16,778,538 24,104,194

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 10.0% 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 moderate flows of volume into FB.O (mildly 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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