Facebook, Inc. (NASDAQ:FB) poised for a 20% gain over the next 12 months
News made the rounds yesterday that the state treasurers of Rhode Island, Illinois, and Pennsylvania had teamed up with the comptroller of New York City to side with a proposal filed back in June by Trillium Asset Management requesting that the firm make independent the role of the chair from that of the chief executive.
Though, this firm has stumbled badly through a number of very publicly embarrassing events this year, the facts are that this proposal will go to a shareholder vote in the spring, and that Mark Zuckerberg controls 59.9% of the vote. So, the two roles only will be divided if Zuckerberg feels like it. Nuff said.
Overall, the bias in prices is: Downwards.
Note: this chart shows extraordinary price action to the downside.
By the way, prices are vulnerable to a correction towards 169.87.
The projected upper bound is: 161.91.
The projected lower bound is: 146.72.
The projected closing price is: 154.31.
A black body occurred (because prices closed lower 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 23 white candles and 27 black candles for a net of 4 black candles.
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.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 76.2493. This is not an overbought or oversold reading. The last signal was a buy 7 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 40.39. 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 28 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 -46. This is not a topping or bottoming area. The last signal was a buy 3 period(s) ago.
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 down -4.500 at 154.920. Volume was 15% below average (neutral) and Bollinger Bands were 27% narrower than normal.
Open High Low Close Volume___
158.510 158.660 153.280 154.920 21,675,084
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 155.76 166.51 178.79
Volatility: 38 29 45
Volume: 23,375,748 23,960,110 27,801,532
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.
FACEBOOK INC A is currently 13.3% below its 200-period moving average and is in an downward 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 moderate flows of volume out of FB.O (mildly bearish). Our trend forecasting oscillators are currently bearish on FB.O and have had this outlook for the last 19 periods.
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