Facebook, Inc. (NASDAQ:FB) will continue to allow targeted political ads

Facebook, Inc. (NASDAQ:FB) will continue to allow targeted political ads

Facebook, Inc. (NASDAQ:FB) will continue to allow targeted political ads

Facebook said it will continue to allow targeted political ads during the 2020 US presidential campaign and won’t prevent politicians from lying in ads they buy on the platform but will grant users more control over some of those that they are served when visiting its platform.

Unlike Twitter, which banned most kinds of political ads, Facebook simply decided to create more “transparency” about the way the company’s platform is used.

It will also be updating its Ad Library feature to make it easier to search and filter results and give users the ability to see “fewer political and and social issue ads”. Users will also be able to control whether they are included in “custom audience” advertising lists employed to target voters.

CEO Mark Zuckerberg said recently that to limit political ads would amount to censorship, and that the company wanted to let politicians and political groups say almost whatever they want with certain exceptions for hate speech and other “harmful content.”

Former Facebook security chief Alex Stamos hoped that the company would at least limit “microtargeting” of political messages to very small groups of Facebook users as it allows politicians to present misleading messages to small but important blocks of voters, without much ability for others to track that messaging.

The news is likely to please Donald Trump, whose campaign has already complained about Google’s move to limit targeting.

Facebook announced the non-change in its policies via a blog post Thursday, which it attributed to ad executive Rob Leather.

“Ultimately, we don’t think decisions about political ads should be made by private companies, which is why we are arguing for regulation that would apply across the industry,” Leather wrote.

“In the absence of regulation, Facebook and other companies are left to design their own policies. We have based ours on the principle that people should be able to hear from those who wish to lead them, warts and all, and that what they say should be scrutinized and debated in public.”

Technical Indicators

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 198.40.

The projected upper bound is: 225.33.

The projected lower bound is: 212.43.

The projected closing price is: 218.88.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 8 white candles and 2 black candles for a net of 6 white candles. During the past 50 bars, there have been 28 white candles and 22 black candles for a net of 6 white candles.

A rising window occurred (where the top of the previous shadow is below the bottom of the current shadow). This usually implies a continuation of a bullish trend. There have been 3 rising windows in the last 50 candles–this makes the current rising window even more bullish.

Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.

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 92.0146. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 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 74.05. This is where it usually tops. The RSI usually forms tops and bottoms before the underlying security. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 124 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 196.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 7 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 12 period(s) ago.

Rex Takasugi – TD Profile

FACEBOOK INC A closed up 3.080 at 218.300. Volume was 6% below average (neutral) and Bollinger Bands were 63% wider than normal.

Open     High      Low     Close     Volume___
217.540 218.380 216.278 218.300 12,679,579
Technical Outlook 
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period     50-period     200-period
Close: 210.32 200.04 189.24
Volatility: 22 21 30
Volume: 12,079,922 14,060,903 14,962,738

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 gapped up today (bullish) on normal volume. Possibility of a Runaway Gap which usually signifies a continuation of the trend. Four types of price gaps exist – Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.
FACEBOOK INC A is currently 15.4% above its 200-period moving average and is in an upward trend. Volatility is Our volume indicators reflect moderate flows of volume into FB.O (mildly bullish). Our trend forecasting oscillators are currently bullish on FB.O and have had this outlook for the last 58 periods. Our momentum oscillator is currently indicating that FB.O is currently in an overbought condition.

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