Daily Market Comment – Fed soothes stimulus anxiety; dollar pares losses

Posted on July 30, 2020 at 8:53 am GMT

Fed tight lipped on new forward guidance but reaffirms pledge on easy policy Stocks buoyed but cautious ahead of tech earnings, US GDP and jobs data Dollar falls on Powell remarks, then bounces back; gold slips Fed maintains course, ups pressure on Congress The Federal Reserve left monetary policy unchanged on Wednesday but warned of a “slowing in the pace of the recovery”. Having already implemented a full range of tools in its fight against the coronavirus, the Fed’s decision [..]


Facebook features Q2 earnings, a court case, and Ad boycott – Stock Market News

Posted on July 29, 2020 at 2:07 pm GMT

Facebook Inc. rescheduled its Q2 earnings release and conference call for Thursday after the market close, joining other high-profile tech companies which will be reporting financial results on the same day. The event will follow Zuckerberg’s testimony before the House Judiciary Committee on Wednesday and is expected to reveal a weaker quarter for the social media giant. Despite that and the advertising boycott news, recommendations by Refinitiv analysts is to “buy” the stock. Q2 earnings could slow at a softer pace Facebook came up with [..]


Technical Analysis – Facebook stock fails to improve positive picture

Posted on July 28, 2020 at 1:12 pm GMT

Facebook’s stock price retreated beneath the all-time high of 249.60, trading around the 50-day simple moving average (SMA). The upside picture faded in the very short term as the MACD oscillator dropped beneath its trigger line near the zero level, while the RSI is holding in the negative territory, suggesting some losses may be on cards. If the stock price successfully surpasses the 50-day SMA, immediate resistance is coming from the red Tenkan-sen line at 236.85 before pausing its move at 249.60. [..]


Technical Analysis – Facebook leaves virus sell-off behind; hits fresh record highs

Posted on May 21, 2020 at 1:33 pm GMT

Facebook stock opened at fresh record highs on Wednesday and ran as high as 231.24, successfully recovering February’s virus-led downtrend that bottomed at a 14-month low in mid-March. The short-term bias is now viewed as cautiously positive as the price has pierced the upper Bollinger band, while the RSI has entered the overbought territory, both suggesting that room for improvement may be limited. Another leg up could stall somewhere between the 240.00 and 250.00 psychological marks. On the other hand, a downside [..]


Technical Analysis – Facebook stock recovers after rebound on 15-month low

Posted on April 23, 2020 at 1:10 pm GMT

Facebook’s stock price has been advancing over the last month after it reached a 15-month low of 136.75. The run above the 50-day SMA could open the way for a possible upside correction of the negative movement from 224.30 to 136.75. Regarding the momentum indicators, the MACD entered the positive territory while the RSI is pointing north above the 50 level. An extension of the positive move could push the stock towards the 61.8% Fibonacci level of the down leg [..]


Daily Market Comment – Stocks steadier as China tries to calm markets; dollar up on ISM beat

Posted on February 4, 2020 at 9:28 am GMT

Chinese shares recoup some losses as authorities attempt to stem sell-off Dollar lifted by surprise pickup in US manufacturing activity Pound extends losses as UK and EU clash on post-Brexit trade arrangements Asian stocks turn green but virus fears persist Stocks in Asia took a breather from yesterday’s steep sell-off as Chinese authorities stepped in to limit the fallout from the worsening outbreak of the coronavirus, as the death toll continues to rise. A massive injection of liquidity by China’s [..]


Technical Analysis – Facebook stock cautiously bullish despite reversal off new all-time high

Posted on January 28, 2020 at 1:53 pm GMT

Facebook stock has pivoted from the fresh all-time high of 222.55, dropping past the 218.44 level, which is the previous historic high from 25 July 2018. The falling Tenkan-sen line and the technical indicators back the correction from the peak, reflecting strengthening negative momentum. The MACD in the positive zone has slipped below its red trigger line, while the RSI has extended its decline out of the overbought region towards its neutral mark. The Stochastics reflect a bearish bias with [..]


Facebook to show higher revenues in Q3 despite legal backlash – Stock Market News

Posted on October 30, 2019 at 11:24 am GMT

Facebook Inc. is in a tough battle with regulatory authorities and central banks around the world like no other company as its large size and its recent malpractices in data protection stand as a barrier in developing new products. Despite that, the social giant which releases financial results for the third quarter after the market close on Wednesday is expected to prove its resilience once again as its stock does on Wall Street. Legal troubles challenge future projects Having paid a $5 billion settlement with the Federal Trade Commission following [..]


Could Facebook’s Libra put central banks on the digital front first? – Special Report

Posted on September 27, 2019 at 10:38 am GMT

Facebook’s plans of launching its own cryptocurrency at some point next year raised the alarm in the central bank community, which already faces issues of meeting its objectives. However, what looks to be just an idea now, could turn  into a competitive game and a pivot point to the means of exchange if regulators pull the trigger. What is Libra? Since the unanimous release of the famous Bitcoin in 2009, there has been little progress in making cryptocurrencies well-recognized and acceptable means of [..]


Technical Analysis – Facebook stock consolidates, cautiously positive in medium term

Posted on September 26, 2019 at 12:09 pm GMT

Facebook’s stock has been trapped within a sideways range between 193.0 and 176.50 since early August, painting a neutral outlook in the short term. A break in either direction could therefore determine the bias. Overall, the structure of higher peaks and higher troughs is still in play on the daily chart, keeping the bigger picture positive for now, though a break below 161.0 would bring that into doubt. Momentum oscillators support the notion that the short-term bias is flat. The [..]

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