Facebook, Inc. (NASDAQ:FB) Stock Price still Falling?

Facebook, Inc. (NASDAQ:FB) Stock Price still Falling?

Facebook, Inc. (NASDAQ:FB) Stock Price still Falling?

Damaging revelations about how Facebook’s leaders mishandled Russian efforts to disrupt the 2016 American election are beginning to take a measurable toll, with the company’s stock plunging to a yearly low.

The entire tech sector has been battered, with members of the FAANG group — Facebook, Apple, Amazon, Netflix and Google — down more than 20% from their yearly highs. Facebook is flat in today’s trading session, but it is down nearly 40% from July. Since going public at $38 in 2012, Facebook has never had a down year, but 2018 could well be the first.

Facebook’s latest challenge is coping with the fallout from the New York Times report last week that detailed company’s efforts to ignore, then attempts to minimize, the foreign influence campaign on its platform.

The group also called for an expanded investigation to examine the social network’s market power and the threats posed by its massive accumulation of data.

“Facebook Inc. and the other biggest tech platform monopolies are fast breaking all traditional bounds of scale and behavior,” Freedom from Facebook wrote in their FTC complaint. “Consumers as a result look to you for meaningful protection and enforcement — especially in the case of a serial privacy violator like Facebook.”

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 156.64.

The projected upper bound is: 140.72.

The projected lower bound is: 121.55.

The projected closing price is: 131.14.

Candlesticks

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 25 white candles and 25 black candles.

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 35.6894. This is not an overbought or oversold reading. The last signal was a buy 1 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 31.33. 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 1 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 -117.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a buy 6 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 8 period(s) ago.

Rex Takasugi – TD Profile

FACEBOOK INC A closed down -3.090 at 131.730. Volume was 58% below average (consolidating) and Bollinger Bands were 4% narrower than normal.

Open High Low Close Volume___
133.650 134.500 131.255 131.730 11,886,128

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

Moving Averages: 10-period 50-period 200-period
Close: 138.68 152.78 173.85
Volatility: 43 41 46
Volume: 26,430,800 25,983,900 27,762,760

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 24.2% below its 200-period moving average and is in an downward 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 bearish on FB.O and have had this outlook for the last 44 periods.

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