Facebook Inc. (NASDAQ:FB)’s new privacy updates seem to be upsetting users, with many resorting to posting a hoax privacy notice on their walls. They hope to protect their posts and photos from being tapped into, without their consent. However most users don’t realize their hoax notice does not provide any substantial protection.
All of this was triggered by a series of emails and notifications that Facebook sent its users. The social network already updated its privacy terms and conditions, which are scheduled to take effect by January 1, 2015. A number of users are upset that they are not allowed to pick the terms they would wish to adhere to. The latest wave of hoax privacy notices essentially shows how users are becoming increasingly skeptical of using services such as Twitter (TWTR) and Facebook.
Facebook affirms that it only owns activity on its social platform while maintaining that all the content and posts belong to its users who have the ability to control how it is shared on the settings portal. These sentiments come in the wake of increased concerns over governments spying on its citizens on these social platforms. Facebook has been forced to reiterate that content shared on the network remains securely protected from the prying eyes of government agencies.
Technical Analysis
Facebook closed rather flat at the end of yesterday’s trading session. The stock remained minutely above its 20-Day EMA of $75.38. Additionally, its RSI indicator came in, standing at 50.04. Facebook is currently finding support at $73, $71.5 while facing resistance at $76, $77.5 on the upside.
Actionable Insight
Buy Facebook Inc. (NASDAQ:FB) above $75.7 for target of $76.2, $76.8 with a stop-loss of $75.5.
