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

Posted on February 4, 2020 at 9:27 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 [..]

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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 [..]

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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 [..]

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

Posted on September 27, 2019 at 10:31 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 [..]

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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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Technical Analysis – Facebook stock eases around 1-year peak; retains bullish outlook

Posted on July 24, 2019 at 1:23 pm GMT

Facebook stock price is hovering around the one-year high of 205.40 but it is holding well above the 50- and 200-day simple moving averages (SMAs). Momentum indicators are looking to lose steam as the MACD fell beneath the trigger line and the RSI is flattening in the positive territory, suggesting a downside correction. An advance could stop at the multi-month high of 218.44, taken from the peak on July 25, before posting a fresh all-time high. A downside structure in the [..]

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Technical Analysis – Facebook stock stops near 9-month high; positive risks not faded yet

Posted on July 2, 2019 at 1:39 pm GMT

Facebook stock price advanced to a fresh one-month high of 195.00 yesterday before ending the day in the red. Momentum indicators signal are neutral to bullish with the RSI flattening in the positive territory and the MACD stretching to the upside above trigger and zero lines. However, the red Tenkan-sen line, which is above the blue kijun-sen line, looks to be heading north. Also, the price successfully overcame the Ichimoku cloud, suggesting that more gains would follow. An advance could stop at the nine-month high of 197.18 while [..]

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Technical Analysis – Facebook stock tumbles near 200-day SMA

Posted on June 4, 2019 at 12:22 pm GMT

Facebook stock price extended its losses over the previous couple of days, finding strong support at the 200-day simple moving average (SMA), marginally above the 38.2% Fibonacci of the wave 218.44 – 123.30 around 160.00. The RSI turned lower after entering oversold territory below 30. At the moment, it continues to head down in support of a negative short-term picture. The bias in the very-short-term also looks bearish as indicated by the MACD which is strengthening its negative momentum below [..]

Daily Market Comment – Dollar extends slide as Fed rate cut bets intensify; Powell speech eyed

Posted on June 4, 2019 at 8:16 am GMT

US dollar continues to nosedive as Treasury yields touch fresh lows on rising rate cut expectations RBA cuts rates but Australian dollar defiant as it climbs to 3-week high Tech stocks tumble as US giants, including Facebook and Apple, face antitrust probe Dollar sell-off shows no sign of abating The US currency is headed for its third straight day of sharp losses against a basket of currencies as traders continue to price in an increasing probability that the Federal Reserve [..]

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Technical Analysis – Facebook stock flies near 8-month peak; bullish outlook in medium term

Posted on April 24, 2019 at 1:04 pm GMT

Facebook stock price pulled back from the two-year low of 123.30, registered in December 2018, and is currently resting slightly above the 61.8% Fibonacci retracement level of the downleg from 218.44 to 123.30 near 182.18. The price is meeting a fresh eight-month high of 184.15 after the completion of a ‘golden cross’ between the 50- and 200-simple moving averages (SMAs). Technically, the stochastic is detecting upside momentum as it is approaching the overbought zone, while the MACD is gaining momentum [..]

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