Facebook shares retreat for a second session in a row on Monday, a news-subscription feature being built, says the WSJ

June 13, 2017 9:07 am

According to a post by the Wall Street Journal, Facebook Inc (FB) is establishing a feature that has long been awaited by news publishers – the opportunity for a direct subscription to publishers from the company’s application.

Facebook shares closed lower for a second consecutive trading session on Monday. The stock went down 0.78% ($1.16) to $148.44, after touching an intraday low at $144.56, or a price level not seen since May 18th ($144.51). In the week ended on June 11th the shares of the social media company lost 2.61% of their market value compared to a week ago, which marked the first drop in the past three weeks and also the sharpest one since the week ended on December 4th 2016. The stock has extended its loss to 1.99% so far during the current month, following a 0.81% surge in May. The latter has been a fifth consecutive month of gains. For the entire past year, shares of Facebook Inc gained 9.93%.

The new feature is expected to be introduced by the end of 2017 and will probably be based on a meter model with several free subscriptions for users.

The feature could be advantageous for large publishers such as News Corp and New York Times Company, whose publications have so far been subsumed by Facebook Inc’s “Instant Articles” product, as reported by Seeking Alpha.

According to CNN Money, the 39 analysts, offering 12-month forecasts regarding Facebook Inc’s stock price, have a median target of $170.00, with a high estimate of $192.00 and a low estimate of $135.00. The median estimate is a 14.52% surge compared to the closing price of $148.44 on June 12th.

The same media also reported that 36 out of 43 surveyed investment analysts had rated Facebook Inc’s stock as “Buy”, while 4 – as “Hold”.

Daily and Weekly Pivot Levels

With the help of the Camarilla calculation method, today’s levels of importance for the Facebook stock are presented as follows:

R1 – $148.87
R2 – $149.29
R3 (Range Resistance – Sell) – $149.72
R4 (Long Breakout) – $150.99
R5 (Breakout Target 1) – $152.48
R6 (Breakout Target 2) – $153.20

S1 – $148.01
S2 – $147.59
S3 (Range Support – Buy) – $147.16
S4 (Short Breakout) – $145.89
S5 (Breakout Target 1) – $144.40
S6 (Breakout Target 2) – $143.68

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

Central Pivot Point – $150.60
R1 – $154.59
R2 – $159.58
R3 – $163.57
R4 – $167.56

S1 – $145.61
S2 – $141.62
S3 – $136.63
S4 – $131.64

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