Facebook, Inc. (NASDAQ:FB) owned WhatsApp have helped to trigger mass beatings

Facebook, Inc. (NASDAQ:FB) owned WhatsApp have helped to trigger mass beatings

Facebook, Inc. (NASDAQ:FB) owned WhatsApp have helped to trigger mass beatings

  • Fake news messages on WhatsApp lead to beatings by mobs
  • More than a dozen people beaten up so far this year
  • At least three people have died as a result
  • WhatsApp says stepping up education efforts for false news
  • Concern incidents could be used to undermine privacvy-advocates

 A WhatsApp text circulating in some districts of India’s central Madhya Pradesh state helped to inflame a mob of 50-60 villagers into savagely beating up two innocent men last week on suspicion that they were going to murder people and sell their body parts.

The essence of the message, written in Hindi, was that 500 people disguised as beggars were roaming the area so that they could kill people to harvest their organs. The message also urged recipients to forward it to friends and family. Police say the message was fake.

Police officers who joined several local WhatsApp groups, found three men circulating the message and they were arrested, said Jayadevan A, the police chief for Balaghat district, where the incident occurred.

This happened just weeks after a WhatsApp text warning of 400 child traffickers arriving in the southern Indian technology hub of Bengaluru led a frenzied mob to lynch a 26-year-old man, a migrant construction worker from another Indian state, on suspicions that he was a kidnapper. He was attacked while he was just walking on the road.

So far this year, false messages about child abductors on Facebook Inc FB.O-owned WhatsApp have helped to trigger mass beatings of more than a dozen people in India – at least three of whom have died. In addition, fake messages about child snatchers on Facebook, as well as some texts on WhatsApp, also led to the lynching of two men in eastern India earlier this month.

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 185.00.

The projected upper bound is: 205.99.

The projected lower bound is: 187.99.

Candlesticks

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 7 white candles and 3 black candles for a net of 4 white candles. During the past 50 bars, there have been 30 white candles and 20 black candles for a net of 10 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 63.0841. 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 58.48. This is not a topping or bottoming area. However, the RSI just crossed below 70 from a topping formation. This is a bearish sign. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 0 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 27. 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 5 period(s) ago.

Rex Takasugi – TD Profile

FACEBOOK INC A closed down -5.390 at 196.350. Volume was 14% below average (neutral) and Bollinger Bands were 23% narrower than normal.

Open High Low Close Volume___
200.000 200.000 193.110 196.350 25,275,136

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

Moving Averages: 10-period 50-period 200-period
Close: 197.49 183.58 177.95
Volatility: 26 33 34
Volume: 19,519,028 20,966,882 23,558,248

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 10.3% above its 200-period moving average and is in an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. 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 41 periods.

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