Ireland’s High Court will decide on Friday whether the country’s data regulator should proceed with a provisional order to halt Facebook user data transfers to the United States from the European Union.
Ireland’s Data Protection Commission, the EU’s lead regulator for Facebook, issued the order last August after Europe’s highest court ruled that a transatlantic data transfer framework known as Privacy Shield was invalid.
Facebook called for a judicial review of the commission’s decision, saying it threatened “devastating” and “irreversible” consequences for its business.
Ireland’s High Court temporarily froze the order last September to allow the review to proceed.
On the technical front, Facebook , RSI stood at 48.352, the price is trading Below the Moving Averages 5 & 20 .So, a Sell trade can be executed with the following target and stop-loss:
TRADE SIGNAL- Facebook – Sell: 305.10, TARGET:-265.10, STOP LOSS: 325 .10.