Facebook (NASDAQ:FB) Stock Hits All Time High

Facebook (NASDAQ:FB) Stock Hits All Time High

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

Facebook
Ticker: NASDAQ:FB
Price: $$265.28

Company News

Mark Zuckerberg’s net worth surpassed $100 billion for the first time on August 7 after the shares of Facebook formed a new all-time high following the launch of Instagram Reels which is touted to replace TikTok that is reeling under the pressure of bans in major economies including the US and India.

The stock gained nearly 7 percent to a new lifetime high of $266.6. It closed at $265.26 on NASDAQ.

The Facebook honcho joins the coveted $100 billion club which also includes Amazon’s Jeff Bezos and Bill Gates, according to the Bloomberg Billionaires Index.

A large portion of Zuckerberg’s wealth derives from his stake in Facebook. The 36-year-old who founded Facebook in 2004 has said he plans to give away 99 percent of his stake in the company over his lifetime.

Instagram Reels will be available to users in more than 50 countries, including India, the US, UK, Japan, Australia, etc.

Reels is a new way to create and discover short, entertaining videos on Instagram. The feature is integrated within the Instagram app and will allow users to record, edit, and share a 15-second video, much like TikTok.

According to media reports, US President Donald Trump has signed executive orders banning popular Chinese apps like TikTok and WeChat, terming them a threat to the national security and to the country’s economy.

India was the first country to ban TikTok and WeChat, citing national security concerns. India has banned as many as 106 Chinese apps, a move welcomed by both the Trump administration and the US lawmakers.

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.

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

The projected upper bound is: 284.18.

The projected lower bound is: 247.82.

The projected closing price is: 266.00.

Candlesticks

A big white candle occurred. This is generally considered bullish, as prices closed significantly higher than they opened. If the candle appears when prices are “low,” it may be the first sign of a bottom. If it occurs when prices are rebounding off of a support area (e.g., a moving average, trendline, or retracement level), the long white candle adds credibility to the support. Similarly, if the candle appears during a breakout above a resistance area, the long white candle adds credibility to the breakout.
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 29 white candles and 21 black candles for a net of 8 white candles.

An engulfing bullish line occurred (where a white candle’s real body completely contains the previous black candle’s real body). The engulfing bullish pattern is bullish during a downtrend. It then signifies that the momentum may be shifting from the bears to the bulls.

If the engulfing bullish pattern occurs during an uptrend (which appears to be the case with FACEBOOK INC A), it may be a last engulfing top which indicates a top. The test to see if this is the case is if the next candle closes below the top of the current (white) candle’s real body.

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 80.6916. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 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 69.79. 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 50 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 149.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. 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 buy 3 period(s) ago.

Rex Takasugi – TD Profile

FACEBOOK INC A closed up 16.160 at 265.280. Volume was 100% below average (consolidating) and Bollinger Bands were 1% narrower than normal.

Open       High       Low       Close       Volume
249.040    266.600    248.665   265.280     22,706
Technical Outlook
Short Term:        Overbought
Intermediate Term: Bullish
Long Term:         Bullish
Moving Averages: 10-period       50-period       200-period
Close:           243.20          236.69          206.14
Volatility:      58              49              54
Volume:          18,632,136      23,437,762      20,862,074

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 28.7% above its 200-period moving average and is in an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term.

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 3 periods.

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