Facebook shares close lower on Monday, company to hire 1 000 people to review ad buying

According to Seeking Alpha, additional 1 000 people are to be hired by Facebook Inc (FB) to review its ad buying initiatives amid rising public scrutiny over whether the Russian Federation used the social network as a tool to influence the outcome from the elections in the United States as well as in other parts of the world.

Facebook shares closed lower for the first time in the past five trading sessions on Monday. The stock went down 0.82% ($1.40) to $169.47, after touching an intraday high at $171.87, or a price level not seen since September 21st ($172.27). In the week ended on October 1st the shares of the social media company added 0.19% to their market value compared to a week ago, which marked the third gain in the past nine weeks. The stock has retreated 0.82% so far during the current month, following a 0.64% drop in September. The latter has been the first monthly loss since June. For the entire past year, the shares of the NASDAQ-listed company gained 9.93%. The stock has risen 47.30% so far in 2017.

“Reviewing ads means assessing not just the content of an ad, but the context in which it was bought and the intended audience — so we’re changing our ads review system to pay more attention to these signals”, Facebook said in a statement.

The hiring is to begin next year.

According to CNN Money, the 42 analysts, offering 12-month forecasts regarding Facebook Inc’s stock price, have a median target of $195.00, with a high estimate of $230.00 and a low estimate of $98.00. The median estimate is a 15.06% surge compared to the closing price of $169.47 on October 2nd.

The same media also reported that 37 out of 45 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 – $169.76
R2 – $170.04
R3 (Range Resistance – Sell) – $170.33
R4 (Long Breakout) – $171.18
R5 (Breakout Target 1) – $172.18
R6 (Breakout Target 2) – $172.59

S1 – $169.18
S2 – $168.90
S3 (Range Support – Buy) – $168.61
S4 (Short Breakout) – $167.76
S5 (Breakout Target 1) – $166.76
S6 (Breakout Target 2) – $166.35

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

Central Pivot Point – $168.03
R1 – $174.50
R2 – $178.13
R3 – $184.60
R4 – $191.07

S1 – $164.40
S2 – $157.93
S3 – $154.30
S4 – $150.67