Facebook, Inc. (NASDAQ:FB) Too Slow To Take Action?
Facebook stock fell to a 21-month low Friday, following an explosive New York Times article this week that raised questions about how the social media behemoth handled the spread of disinformation and other problems.
The Times report on Facebook (FB) described how Chief Executive Mark Zuckerberg and Chief Operating Officer Sheryl Sandberg passed off many critical security and policy decisions. They delayed responses to abuse on Facebook or played down its significance, the article said. It also revealed how Facebook treats competitors and opponents.
Facebook stock dropped 3%, to 139.53 on the stock market today.
‘Too Slow To Take Action’
“As Mark and Sheryl made clear to Congress, the company was too slow to spot Russian interference, and too slow to take action,” it said. “As a board we did indeed push them to move faster. But to suggest that they knew about Russian interference and either tried to ignore it or prevent investigations into what had happened is grossly unfair. In the last eighteen months Facebook, with the full support of this board, has invested heavily in more people and better technology to prevent misuse of its services, including during elections.”
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 161.80.
The projected upper bound is: 148.13.
The projected lower bound is: 129.99.
The projected closing price is: 139.06.
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 25 white candles and 25 black candles.
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 34.6656. 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 34.87. 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 49 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 -128.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.
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 down -4.320 at 139.530. Volume was 36% above average (neutral) and Bollinger Bands were 36% narrower than normal.
Open High Low Close Volume___
141.070 141.770 137.770 139.530 37,250,560
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 145.43 155.24 174.79
Volatility: 30 38 47
Volume: 21,931,008 25,314,472 27,829,304
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 20.2% 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 40 periods.