Facebook shares received support on the optimistic report!

After a long decline due to the scandal about the leakage of Facebook personal data, shares of Facebook Inc. remained in a downward trend. The increase in optimism was caused by the last income report of Facebook Inc. for the first quarter of 2018, which, despite the scandal and legal proceedings, exceeded expectations.

Technically, Facebook shares remain in an upward trend and retain the potential to strengthen, despite overbought. After almost a month’s decline and the publication of a very optimistic report, these shares remain undervalued.

Hanzenko Anton