Facebook, Inc. (NASDAQ:FB) set to report second-quarter results
As Facebook (FB) stock hovers in a buy zone, the social media giant is set to report second-quarter results. The Facebook earnings report will arrive after the market close Wednesday.
Wall Street expects Facebook earnings, on an adjusted basis, to reach $1.87 per share, up 8% from the year-ago period. Analysts predict revenue of $16.5 billion, which is up 25% but marks the fifth-straight quarter of decelerating growth.
Facebook stock closed at 202.36, up a fraction on the stock market today.
The stock remains in buy range, after rising above its 198.58 buy point from a cup-with-handle base on July 9.
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 189.64.
The projected upper bound is: 212.94.
The projected lower bound is: 192.34.
The projected closing price is: 202.64.
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.
A spinning top occurred (a spinning top is a candle with a small real body). Spinning tops identify a session in which there is little price action (as defined by the difference between the open and the close). During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.
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 41.8654. This is not an overbought or oversold reading. The last signal was a sell 4 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 62.51. 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 6 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 55. This is not a topping or bottoming area. The last signal was a sell 4 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 0.040 at 202.360. Volume was 14% below average (neutral) and Bollinger Bands were 11% narrower than normal.
Open High Low Close Volume___
202.840 204.242 200.962 202.360 14,583,680
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 202.22 187.74 165.27
Volatility: 22 36 42
Volume: 14,209,071 16,246,953 20,692,126
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 22.4% above its 200-period moving average and is in an upward trend. Volatility is relatively normal 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 bullish on FB.O and have had this outlook for the last 22 periods.
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