Facebook, Inc. (NASDAQ:FB) Struggles with Privacy Concerns and Executive Departures

Facebook, Inc. (NASDAQ:FB) Struggles with Privacy Concerns and Executive Departures

Facebook, Inc. (NASDAQ:FB) Struggles with Privacy Concerns and Executive Departures

Facebook is taking steps to address criticism that its platform has been hijacked by bad actors, but investors are bailing.

Facebook stock opened at $150.13 on Thursday, down more than 30% from the high it hit in July, as the company continues to grapple with privacy scandals, fake news and a broader market selloff hitting the tech industry particularly hard.
In fact, Facebook stock is hovering around its lowest point from the days after the Cambridge Analytica data scandal came to light in March and ignited a wave of consumer and regulatory scrutiny on both sides of the Atlantic.

The surprise departure of Instagram’s two founders could potentially pave the way for Facebook to exert more control over the platform’s direction. “New leadership there could lead to more monetization,” Scott Kessler, an analyst with CFRA, wrote in a note this week.

The downside: Facebook’s very public splits with the founders of Instagram and WhatsApp, two of its biggest acquisitions, could make it harder to convince the next Instagram or WhatsApp to join Facebook in the future.

Overall, the bias in prices is: Downwards.

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

The projected upper bound is: 161.21.

The projected lower bound is: 144.76.

The projected closing price is: 152.98.

Candlesticks

A white body occurred (because prices closed higher 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 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 24.9358. This is not an overbought or oversold reading. The last signal was a buy 2 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 34.58. 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 23 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 -142.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a buy 2 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 4 period(s) ago.

Rex Takasugi – TD Profile

FACEBOOK INC A closed up 1.970 at 153.350. Volume was 39% above average (neutral) and Bollinger Bands were 34% narrower than normal.

Open High Low Close Volume___
150.130 154.810 149.160 153.350 35,338,900

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

Moving Averages: 10-period 50-period 200-period
Close: 158.47 169.08 179.37
Volatility: 34 31 45
Volume: 28,013,664 25,226,294 27,640,744

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 14.5% below its 200-period moving average and is in an downward trend. Volatility is Our volume indicators reflect moderate flows of volume out of FB.O (mildly bearish). Our trend forecasting oscillators are currently bearish on FB.O and have had this outlook for the last 14 periods.

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