Facebook, Inc. (NASDAQ:FB) Proposed California Privacy Laws Could Have Major Ripple Effect
California state lawmakers on Thursday unanimously passed a data privacy bill aimed at giving consumers more control over how companies collect and manage their personal information, a bill that Google parent Alphabet Inc and other big companies have opposed.
Governor Jerry Brown has 12 days to sign the measure into law or veto it, though the legislature can override a veto with two-thirds support. Under the proposal, large companies, such as those with data on more than 50,000 people, would be required starting in 2020 to let consumers view the data they have collected on them, request deletion of data and opt out of having the data sold to third parties.
Each violation would carry a $7,500 fine. The law would apply only in California.
Google executives have warned that the measure could have unintended consequences but have not said what those might be. The Internet Association, which also represents Facebook Inc and Amazon.com Inc has also opposed the bill, as have the California Chamber of Commerce and the Association of National Advertisers.
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 185.37.
The projected upper bound is: 205.82.
The projected lower bound is: 187.83.
The projected closing price is: 196.83.
A white body occurred (because prices closed higher than they opened).
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 31 white candles and 19 black candles for a net of 12 white 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 39.3299. This is not an overbought or oversold reading. The last signal was a sell 3 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 56.34. 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 3 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 -29. This is not a topping or bottoming area. The last signal was a sell 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 sell 2 period(s) ago.
Rex Takasugi – TD Profile
FACEBOOK INC A closed up 0.390 at 196.230. Volume was 38% below average (neutral) and Bollinger Bands were 33% narrower than normal.
Open High Low Close Volume___
195.180 197.340 193.260 196.230 18,172,440
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 198.43 185.40 178.32
Volatility: 26 33 34
Volume: 20,345,730 20,826,330 23,659,486
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 10.0% above its 200-period moving average and is in an upward trend. Volatility is 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 44 periods.