Facebook shares gain the most in 3 1/2 months on Wednesday, company pushes back the release of Aloha and Fiona smart speakers to July

According to a report by DigiTimes earlier this week, Facebook Inc (FB) pushed back the launch of two smart speakers to July from May, as initially planned, in order to work more on software modification and sound quality.

Facebook shares closed higher for the third time in the past four trading sessions on Wednesday. It has also been the sharpest daily surge since October 27th. The stock went up 3.68% ($6.37) to $179.52, after touching an intraday high at $179.76, or a price level not seen since February 8th ($181.84).

In the week ended on February 11th the shares of the social media company lost 7.45% of their market value compared to a week ago, which marked the first drop out of four weeks. It has also been the worst performance since the week ended on November 6th 2016.

However, due to yesterdays gain, the stock has pared its loss to 3.94% so far during the current month, following a 5.91% surge in January. The latter has been the largest monthly increase since July 2017.

For the entire past year, the shares of the NASDAQ-listed company rose 53.38% following another 9.93% gain in 2016.

Under the code names of “Aloha” and “Fiona”, the two speaker models will be equipped with a 15-inch touch screen supplied by LG and will allow users to conduct video chats and take advantage of other social features.

The Aloha speaker set is expected to be released on the market under the name of “Portal”, while, through voice command and facial recognition functions, it will be capable of accessing Facebook.

Last August Bloomberg reported that the social media company was developing at least two separate speaker sets featuring Apple “Siri-style” voice assistants, which could be launched as early as the spring of 2018.

According to CNN Money, the 43 analysts, offering 12-month forecasts regarding Facebook Inc’s stock price, have a median target of $225.00, with a high estimate of $265.00 and a low estimate of $131.00. The median estimate is a 25.33% surge compared to the closing price of $179.52 on February 14th.

The same media also reported that 38 out of 46 surveyed investment analysts had rated Facebook Inc’s stock as “Buy”, while 3 – as “Hold”. On the other hand, 2 analysts had recommended selling the stock.

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 – $180.09
R2 – $180.67
R3 (Range Resistance – Sell) – $181.24
R4 (Long Breakout) – $182.97
R5 (Breakout Target 1) – $184.98
R6 (Breakout Target 2) – $186.01

S1 – $178.95
S2 – $178.37
S3 (Range Support – Buy) – $177.80
S4 (Short Breakout) – $176.07
S5 (Breakout Target 1) – $174.06
S6 (Breakout Target 2) – $173.03

By using the traditional method of calculation, the weekly levels of importance for Facebook Inc (FB) are presented as follows:

Central Pivot Point – $177.97
R1 – $188.75
R2 – $201.40
R3 – $212.18
R4 – $222.97

S1 – $165.32
S2 – $154.54
S3 – $141.89
S4 – $129.25

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