Facebook, Inc. (NASDAQ:FB) serious breaches of data protection

Facebook, Inc. (NASDAQ:FB) serious breaches of data protection

Facebook, Inc. (NASDAQ:FB) serious breaches of data protection

Facebook has been fined £500,000 ($644,600) in the U.K. after the country’s privacy watchdog said it had carried out “serious breaches of data protection.”

The Information Commissioner’s Office (ICO) said Thursday that the personal information of at least 1 million U.K. users had been harvested by Facebook and subsequently put at risk.

The ICO said the relevant data, processed between 2007 and 2014, was accessible to third-party developers without any consent being granted by the Facebook users.

Facebook recorded a second-quarter net income of $5.1 billion in July. The earnings figure, along with a projected slowdown in users, resulted in a steep sell-off in the company’s stock.

Facebook reports third-quarter results on Tuesday.

Overall, the bias in prices is: Downwards.

Note: this chart shows extraordinary price action to the downside.

The projected upper bound is: 175.39.

The projected lower bound is: 125.40.

The projected closing price is: 150.40.

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 28 white candles and 22 black candles for a net of 6 white candles.

An engulfing bearish line occurred (where a black candle’s real body completely contains the previous white candle’s real body). The engulfing bearish pattern is bearish during an uptrend. It then signifies that the momentum may be shifting from the bulls to the bears.

If the engulfing bearish pattern occurs during a downtrend (which appears to be the case with FACEBOOK INC A), it may be a last engulfing bottom which indicates a bullish reversal. The test to see if this is the case is if the next candle closes above the bottom the current (black) candle’s real body.

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 20.7592. This is not an overbought or oversold reading. The last signal was a buy 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 33.87. 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 47 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 -120.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a buy 1 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 sell 12 period(s) ago.

Rex Takasugi – TD Profile

FACEBOOK INC A closed down -3.100 at 150.950. Volume was 19% below average (neutral) and Bollinger Bands were 105% wider than normal.

Open High Low Close Volume___
154.760 157.340 145.600 150.950 84,369,984

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

Moving Averages: 10-period 50-period 200-period
Close: 161.92 177.89 132.94
Volatility: 50 87 67
Volume: 113,511,376 124,257,688 115,938,296

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 13.5% above its 200-period moving average and is in an downward trend. Volatility is high 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 9 periods.

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