$FB #Facebook #SocialMedia #USA #Nasdaq #Stocks #Trading #Markets
Admitting that the platform could play a role in destroying democracy as we know it, Facebook says it will limit or restrict new political ads in the week leading up to the election in November. Also it says it will continue to police misinformation — something it has never fully succeeded in doing — and posts aimed at voter suppression. And Mark Zuckerberg says they’ll do their best to show people factual election data if and when a candidate (TRUMP!) decides to declare victory early on Facebook.
In a move that caused Facebook’s stock price to tumble today, the company made the half-hearted gesture of saying it will “block” all “new” political and issue ads in the week leading up to the election — though, as CNN notes, campaigns will still get to run whatever ads they already have running, and re-target them as they please. The company will also allegedly be stepping up efforts to combat misinformation, both about the candidates and about the voting process.
Mark Zuckerberg announced the move in in a lengthy Facebook post Thursday morning in which he said, “I’m concerned about the challenges people could face when voting,” and “I’m also worried that with our nation so divided and election results potentially taking days or even weeks to be finalized, there could be an increased risk of civil unrest across the country.”
Zuckerberg previously expressed his anxiety about the election not being decided in the day or so after election day, and what we all know that will mean for the sitting president and his endless stream of bullshit on social media. And the company had been contemplating a “kill switch” for political advertising if this happens — which this latest announced move sort of, maybe, reflects.
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.
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 255.19.
The projected upper bound is: 313.25.
The projected lower bound is: 271.27.
The projected closing price is: 292.26.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 27 white candles and 23 black candles for a net of 4 white 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 57.1723. This is not an overbought or oversold reading. The last signal was a sell 3 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 63.13. This is not a topping or bottoming area. However, the RSI just crossed below 70 from a topping formation. This is a bearish sign. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 0 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 44. This is not a topping or bottoming area. The last signal was a sell 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 buy 10 period(s) ago.
Rex Takasugi – TD Profile
FACEBOOK INC A closed down -11.380 at 291.120. Volume was 26% above average (neutral) and Bollinger Bands were 66% wider than normal.
Open High Low Close Volume 295.990 297.600 283.630 291.120 32,294,092
Technical Outlook Short Term: Overbought Intermediate Term: Bullish Long Term: Bullish
Moving Averages: 10-period 50-period 200-period Close: 289.23 253.91 214.62 Volatility: 62 52 56 Volume: 28,914,180 27,068,604 22,299,730
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 35.6% 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 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 23 periods.
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