On March 27th NASDAQ-listed Facebook Inc (FB) introduced a new option for its Messenger app, which provides users with the opportunity of sharing their locations continuously for as long as 1 hour. The addition marks Facebooks response to competition with solutions offered by Apple Inc and Alphabet Inc. According to Stan Chudnovsky, head of product for Messenger, one of the most frequently used phrases on the chat was “How far away are you?” or some other variation of the latter.
Facebook shares closed lower on Monday, while marking their fourth loss in the past nine trading sessions. The stock inched down 0.01% ($0.02) to $140.32, after touching an intraday low at $138.77, or a price level not seen since March 22nd ($137.60). In the week ended on March 26th the shares of the social network added 0.36% to their market value compared to a week ago, which marked a fifth consecutive period of gains, but yet, it has been the smallest increase since the week ended on December 18th 2016. The stock has pared its advance to 3.53% so far during the current month, following a 4.01% surge in February. The latter has been a second consecutive month of gains. For the entire past year, Facebook shares gained 9.93%.
For users, disclosing information about their current location remains an option and now it can be done live. In case a person shares location data with another contact on Facebook, that contact will be able to observe the persons movement for up to 1 hour.
The update was ready last October, according to Chudnovsky, but yet, five additional months of testing were required, so that the exhaustion effect on smart phone batteries was minimized.
“There are all sorts of products that you can imagine you could build on top of that”, Chudnovsky was quoted as saying during an interview with Reuters.
Daily and Weekly Pivot Levels
With the help of the Camarilla calculation method, todays levels of importance for the Facebook stock are presented as follows:
R1 – $140.49
R2 – $140.66
R3 (Range Resistance – Sell) – $140.84
R4 (Long Breakout) – $141.35
R5 (Breakout Target 1) – $141.96
R6 (Breakout Target 2) – $142.22
S1 – $140.15
S2 – $139.98
S3 (Range Support – Buy) – $139.80
S4 (Short Breakout) – $139.29
S5 (Breakout Target 1) – $138.68
S6 (Breakout Target 2) – $138.42
By using the traditional method of calculation, the weekly levels of importance for Facebook Inc (FB) are presented as follows:
Central Pivot Point – $140.08
R1 – $142.57
R2 – $144.79
R3 – $147.28
R4 – $149.76
S1 – $137.86
S2 – $135.37
S3 – $133.15
S4 – $130.92