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Live Trading News > Blog > Stocks > US Stocks > Facebook > Facebook Shares Drop After Trump Ban
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Facebook Shares Drop After Trump Ban

Shayne Heffernan Ph.D.
Last updated: January 11, 2021 8:28 pm
Shayne Heffernan Ph.D.
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#Facebook sank as much as 4.5% on Monday as investors continued to balk at the platform’s ban of President Donald Trump.

The slide saw $33.6 billion erased from Facebook’s market cap at intraday lows. Shares have since pared some losses and now trade about 2.6% lower.

While Facebook is far from the only platform to ban Trump, it is among the largest to do so.

Investors likely fear that the move will lead pro-Trump users to boycott the website and congregate elsewhere.

Right-wing social-media platform Parler was poised to take in such users until Amazon removed the website from its hosting service.

Facebook closed down -10.730 at 256.840. Volume was 50% above average (neutral) and Bollinger Bands were 44% narrower than normal.

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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 is currently 4.2% above its 200-period moving average and is in a downward trend.

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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 Facebook at a relatively equal pace (neutral).

Our trend forecasting oscillators are currently bearish on Facebook and have had this outlook for the last 19 periods.

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Overall, the bias in prices is: Downwards.

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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.

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During the past 50 bars, there have been 24 white candles and 26 black candles for a net of 2 black candles.

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By Shayne Heffernan Ph.D.
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Shayne Heffernan Ph.D. Economist at Knightsbridge holds a Ph.D. in Economics and brings with him over 40 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Crypto, Mining, Shipping, Technology and Financial Services.
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