Facebook Inc (FB) Underperforms All mega cap US stocks, Down 8.32%; Breaks Below 20 and 50 Day Averages

Facebook Inc 4 Hour Price Update

Updated June 29, 2020 04:41 PM GMT (12:41 PM EST)

The price of FB jumped $1.42 (0.66%) over the past four hours. To help put that in perspective, note that Facebook Inc’s peers in the in the Business Services industry are up 1.01% on average during this time, while its counterparts in the broader Technology sector are up by an average of 1.41%.

Facebook Inc Daily Price Recap

Facebook Inc entered today at $216.08, down 8.32% ($19.6) from the previous day. The price move occurred on stronger volume; specifically, yesterday’s volume was up 315.35% from the day prior, and up 289.95% from the same day the week before. The daily price chart of Facebook Inc below illustrates.

Facebook Inc Technical Analysis

First things first: Facebook Inc crossed below its 20 and 50 day moving averages yesterday. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Or to view things another way, note that out of the past 14 days Facebook Inc’s price has gone up 9 them.

Overheard Around the Web

Over on StockTwits, here’s an example of what they’re saying about FB:

    $FB $TWTR a lot of things are blamed on social media. However the traditional media Fox News/CNN/ NYTimes and Washington Post have all devolved into completely one sided and dangerous disinformation machines. Its not a right thing or a left thing. It’s all professional wrestling.

    The Washington Post’s global opinion
    editor tweeted that “white women are lucky that black people are not calling for revenge”. Really? Is this a reasoned argument to promote change? Or is it similar to trump adding to racial chaos? Are we supposed to believe there isn’t any extreme bias in that paper? https://dailycaller.com/2020/06/29/the-washington-post-editor-karen-attiah-tweet-twitter-white-women-lucky-black-people-revenge/