Discussion in 'Investment Charts' started by Chartman, Mar 20, 2018.
Its looks as though the Libra cryptocurrency idea has been well accepted
Would the ranking of Facebook shares change if the company was to move into another sector? At the moment they are rated on a high-technology share valuation. What happens if they moved into something more mundane such as financial services?
I heard about a recent US Senate meeting where Facebook was forced to attend and the cryptocurrency was ridiculed and ripped apart. It looks like this might have caused a knock-on effect to Bitcoins and brought a recent improvement in the price to a shuddering halt.
Unless Facebook is able to sign up a group of leading banks it looks as though the cryptocurrency gamble may well backfire. It also appears that many US politicians have an axe to grind regarding Facebook and they are certainly doing their best to muddy the water.
It is looking like a period of consolidation for the FB share price - not a bad thing after the recent volatility. When will social media companies be ranked as analytical companies - which is surely what they are?
Will markets get spooked about FB the nearer we get to elections in the UK and the USA - remember the controversy last time round!
What is your view on FB - has social media had its day? Will we soon be moving onto the next communication platform?
There would appear to be a new upward trend emerging in Facebook shares. Is the company transforming itself or is social media still popular amongst investors?
While the moving averages are heading down, it looks to me as though the ongoing period of consolidation might see the shares break out on the upside. A break above $185 would be very positive indeed.
It is strange that the Facebook share price is strong as press speculation today suggests the company’s much heralded cryptocurrency may be killed off before it is even released.
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