Facebook, Inc. (NASDAQ:FB) Time to Take Profits

Facebook, Inc. (NASDAQ:FB) Time to Take Profits

Facebook, Inc. (NASDAQ:FB) Time to Take Profits

Facebook Inc (NASDAQ: FB)has grabbed attention from the analysts when it experienced a change of -2.01% in the current trading session to trade at $187.50. A total of 11.8M shares exchanged hands during the intra-day trade contrast with its average trading volume of 33.57M shares, while its relative volume stands at 0.92. Relative volume is the comparison of current volume to average volume for the same time of day, and it’s displayed as a ratio. If RVOL is less than 1 it is not In Play on this trading day and Investors may decide not to trade it.  If RVOL is above 2 it is In Play and this is more evidence Investors ought to be in the name.  When stocks are *very* In Play one can see a RVOL of 5 and above.  The higher the RVOL the more In Play the stock is.

India has asked social media company Facebook Inc to respond by June 20 to media reports of sharing users data without their explicit consent, a government statement said on Thursday.

“Recently there are media reports claiming that Facebook has agreements which are allowing phone and other device manufacturers access to its users’ personal information, counting that of their friends, without taking their explicit consent. The Government of India is deeply concerned about reports of such lapses/violations,” the statement said.

“The Ministry of Electronics and Information Technology has sought an explanation from Facebook seeking a detailed factual report on the issue. Facebook has been asked to respond by June 20.”

Facebook faced criticism in the United States on Wednesday from Republican and Democratic lawmakers who demanded that the social media company be more forthcoming about data it has shared with four Chinese firms.

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 179.36.

The projected upper bound is: 198.47.

The projected lower bound is: 179.33.

The projected closing price is: 188.90.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 7 white candles and 3 black candles for a net of 4 white candles. During the past 50 bars, there have been 27 white candles and 23 black candles for a net of 4 white 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 50.8235. This is not an overbought or oversold reading. The last signal was a sell 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 57.57. 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 sell 2 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 15. This is not a topping or bottoming area. The last signal was a sell 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 0 period(s) ago.

Rex Takasugi – TD Profile

FACEBOOK INC A closed down -3.160 at 188.180. Volume was 31% below average (neutral) and Bollinger Bands were 42% narrower than normal.

Open High Low Close Volume___
190.750 190.970 186.770 188.180 21,503,172

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

Moving Averages: 10-period 50-period 200-period
Close: 189.58 174.74 176.36
Volatility: 20 36 33
Volume: 18,009,162 27,351,830 23,218,198

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 6.7% 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 29 periods. our momentum oscillator has set a new 14-period low while the security price has not. This is a bearish divergence.

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