By: Stephanie Brown
U.K. politicians have raised concerns as to how social networks, led by Facebook Inc. (NASDAQ:FB) use information shared on their platforms by users. After completing an inquiry that analyzed privacy policies that users agree to when joining, they asked the government to develop information standards that should be geared towards upholding privacy standards.
Miller believes that socially responsible companies should not to bombard users with too much data during the signup process. Simplifying the data that it is straight to the point remains highly essential. The UK’s Science and Technology Select Committee wants something to be done and is trying to push government to enact simpler disclosures that explain how users personal information is used. Some companies led by Facebook already started developing terms and conditions that are a little more understandable.
When looking at the daily chart, Facebook closed flat in Friday’s trading session at $77.70. The stock is currently trading above its 20-Day EMA of $75.40 and has been making higher-highs since the past few trading sessions. Its Aroon Oscillator stands at 35.7 and is moving up, indicating that an uptrend just commenced.
Buy Facebook Inc. (NASDAQ:FB) above $78 for target of $78.9, $79.5 with a stop-loss of $77.55.