FACEBOOK SHARES ADVANCE AMID ONGOING NAFTA DEAL
Facebook is currently trading at $178.20 and has gained about 2% from the last closing price. The stock was traded flat in the last week and inched up only 0.43% in the same period.
Technology stocks were among the top gaining stocks at the time of writing on Monday as the U.S. and Mexico closed in on a trade deal. U.S. and Mexican officials are meeting in Washington on Monday to discuss the North American Free Trade Agreement, and “hours” away from reaching a deal, Mexican Economy Minister Ildefonso Guajardo told reporters.
In recent news, Facebook announced on Monday that it has been removing several Myanmar military officials from the social media website and an Instagram account to prevent the spread of “hate and misinformation” after reviewing the content. It was the first time Facebook has imposed such a ban on a country’s military or political leaders according to reports.
On the technical front, the RSI is currently at 44.86% and suggests that the market can move in the upward direction. The %K has crossed the %D from below to the upside at 14.40% and suggests that the market may head upwards. The current price is above the MA5. Overall market sentiment seems to be positive.
TRADE SUGGESTION-LIMIT BUY AT 177.80 TAKE PROFIT AT 178.80 STOP LOSS AT 177.30