Facebook is expected to announce earnings for the fourth quarter of 2018 after the closing bell on Wednesday. Some analysts approach the report with caution after months of volatility of the company's stock.
"We think Facebook shares are among the most controversial in our range," said analyst Mark Kelley. He places one of the lowest price targets for Facebook. A target of $ 148 suggests a 3% increase in current levels, and recently he shared with his clients that he is more on the cautious side for the beginning of the year.
It has historically been proven that the release of quarterly results has a particular importance for the company's shares. The best and worst daily performances of the company have been in the days following the announcement of the earnings.
Usually the moving averages do not work well as support and resistance, but Facebook's 50MA has been a useful reference point in recent months. Currently, there is a line of support around 140, a level that could once again be in the cross-hairs post numbers.
From the highest value reached in July, the company's shares have fallen by 34%. Over the past year, Facebook has been under strict public and regulatory control due to the privacy and data scandals.
Read more:
25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Disclaimer:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.