Facebook, Inc. (NASDAQ:FB) took a slight dip on the news and closed the day in the negative

Facebook, Inc. (NASDAQ:FB) took a slight dip on the news and closed the day in the negative

Facebook, Inc. (NASDAQ:FB) took a slight dip on the news and closed the day in the negative

Researchers at cybersecurity firm UpGuard claim to have found the records of millions of Facebook users in publicly-accessible places on Amazon’s cloud servers.

The records were apparently stored there by Facebook partners, not by Facebook itself. Moreover, the data was not particularly sensitive — for instance, it did not include financial information or Social Security Numbers, which could be used to facilitate identity theft, and which were exposed in the 2017 Equifax breach.

Nonetheless, the exposure highlights the fact that Facebook partners have been able to collect significant amounts of data through their own apps, and that these partners may not always have secured that information adequately. Facebook has faced a barrage of negative publicity over the last two years related to the way it and its partners collect, share and secure data that users store and share on the service.

Facebook stock dipped about 1 percent on the report and ended the day slightly negative. Amazon was off its session highs but still up about 0.4 percent by Wednesday’s close.

Overall, the bias in prices is: Upwards.

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

The projected upper bound is: 184.23.

The projected lower bound is: 163.89.

The projected closing price is: 174.06.

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.

A long upper shadow occurred. This is typically a bearish signal (particularly when it occurs near a high price level, at resistance level, or when the security is overbought).

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 81.8378. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 10 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 62.49. 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 38 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 216.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 11 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 buy 1 period(s) ago.

Rex Takasugi – TD Profile

FACEBOOK INC A closed down -0.660 at 173.540. Volume was 24% above average (neutral) and Bollinger Bands were 35% narrower than normal.

Open High Low Close Volume___
174.500 177.960 172.950 173.540 27,590,058

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

Moving Averages: 10-period 50-period 200-period
Close: 167.89 164.23 163.66
Volatility: 23 40 49
Volume: 15,736,433 19,412,530 24,394,678

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 6.0% 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 1 periods.

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