Facebook, Inc. (NASDAQ:FB) stock heads higher
Shares of Facebook Inc. FB, +0.98% are up 1.1% in premarket trading Thursday after Deutsche Bank analyst Lloyd Walmsley turned more upbeat on the stock, raising his target price to $230 from $220.
His channel checks show that ad units and pricing for “stories” content are improving. As more Facebook and Instagram users choose to create stories posts over more traditional news-feed content, Facebook’s ability to effectively monetize the newer stories format has been a source of debate among investors.
Walmsley is also optimistic about the company’s new Instagram Checkout capabilities, which he argued could generate more ad spending around the holidays. “We continue to view Facebook as our top pick in mega cap Internet, with several levers for the shares to move higher over the near and medium term, in our view,” he wrote. Facebook shares have jumped 43% so far this year, as the S&P 500 SPX, +0.38% has risen 16%.
Overall, the bias in prices is: Upwards.
By the way, prices are vulnerable to a correction towards 181.95.
The projected upper bound is: 200.76.
The projected lower bound is: 178.66.
The projected closing price is: 189.71.
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 26 white candles and 24 black candles for a net of 2 white candles.
A hammer occurred (a hammer has a long lower shadow and closes near the high). Hammers must appear after a significant decline or when prices are oversold to be valid. When this occurs, it usually indicates the formation of a support level and is thus considered a bullish pattern.
A hanging man occurred (a hanging man has a very long lower shadow and a small real body). This pattern can be bullish or bearish, depending on the trend. If it occurs during an uptrend (which appears to be the case with FACEBOOK INC A) it is called a hanging man line and signifies a reversal top. If it occurs during a downtrend it is called a bullish hammer.
A long lower shadow occurred. This is typically a bullish signal (particularly when it occurs near a low price level, at a support level, or when the security is oversold).
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.
Three black candles occurred in the last three days. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.
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 29.9956. This is not an overbought or oversold reading. The last signal was a sell 6 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 58.57. 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 17 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 49. This is not a topping or bottoming area. The last signal was a sell 2 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 11 period(s) ago.
Rex Takasugi – TD Profile
FACEBOOK INC A closed up 1.840 at 189.500. Volume was 36% below average (neutral) and Bollinger Bands were 63% wider than normal.
Open High Low Close Volume___
189.880 189.950 188.270 189.500 11,158,983
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 188.56 184.08 162.20
Volatility: 31 39 42
Volume: 19,883,576 18,169,902 21,749,182
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 16.8% above its 200-period moving average and is in an upward 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 bullish on FB.O and have had this outlook for the last 5 periods.
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