Facebook’s stocks are one of the most controversial

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.

 Trader Georgi Bozhidarov

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