Facebook (NASDAQ:FB) Not Where You Want To Buy In

Facebook (NASDAQ:FB) Not Where You Want To Buy In

$FB #Facebook #SocialMedia #USA #Nasdaq #Stocks #Trading #Markets

Facebook
Ticker: NASDAQ:FB
Price: $263.52
Recommendation: Sell

Facebook News

Last quarter’s earnings broke us from a range … that has been in place since 2018.. We’re pulling back to support right now at about 265.

Facebook ended trading more than 2% higher on Tuesday at $263.52 a share.

Facebook and its subsidiary Instagram to remain “dominant” players in the digital landscape.

They are the go-to platforms for advertising for small businesses. If Covid subsides, I think there’s going to be sort of a reignition of advertising spend in Facebook, and that’s going to clear the way for new initiatives.

Business Summary

Facebook, Inc. is focused on building products that enable people to connect and share through mobile devices, personal computers and other surfaces.

The Company’s products include Facebook, Instagram, Messenger, WhatsApp and Oculus.

Facebook enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.

Instagram enables people to take photos or videos, customize them with filter effects, and share them with friends and followers in a photo feed or send them directly to friends.

Messenger allows communicating with people and businesses alike across a range of platforms and devices.

WhatsApp Messenger is a messaging application that is used by people around the world and is available on a range of mobile platforms.

Its Oculus virtual reality technology and content platform offers products that allow people to enter an interactive environment to play games, consume content and connect with others.

Price Performance

Relative Valuation

Technical Indicators

Overall, the bias in prices is: Upwards.

The projected upper bound is: 284.07.

The projected lower bound is: 243.88.

The projected closing price is: 263.97.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 2 white candles and 8 black candles for a net of 6 black candles. During the past 50 bars, there have been 22 white candles and 28 black candles for a net of 6 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 29.7131. 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 44.51. 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 8 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 -93. This is not a topping or bottoming area. 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 7 period(s) ago.

Rex Takasugi – TD Profile

FACEBOOK INC A closed down -8.900 at 263.520. Volume was 14% above average (neutral) and Bollinger Bands were 37% wider than normal.

Open      High      Low      Close      Volume
267.290   272.440   261.790  263.520    29,207,594
Technical Outlook
Short Term:        Neutral
Intermediate Term: Bearish
Long Term:         Bullish
Moving Averages: 10-period      50-period       200-period
Close:           275.80         260.17          217.47
Volatility:      45             48              57
Volume:          25,026,040     24,628,766      22,761,294

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 21.2% above its 200-period moving average and is in an downward trend. Volatility is high 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 1 periods.

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