The rivalry between Facebook Inc and Google Inc. just became bitter. It was reported today that tech giant Alphabet was taking initiative to accelerate web page load items on the mobile web. Googles project is called Accelerated Mobile Pages and would be launching early next year in what many analysts believe is an effort from the tech giant to reign supreme in the mobile internet market. It is important to state that since Google introduced its initiative in October, its been attracting attention from thousands of publishers like BBC and the New York Times.
The on going rivalry between Facebook and Google continues on the back of reports that media outlets dont want to publish their content on Facebooks platform since it not accessible to Googles search engine. Many analysts believe that the response from Google is mainly on the back of Facebooks initiative called Instant Articles which allows media outlets to post their content directly on Facebook rather than posting their links to their sites. It is important to state that Facebook has been one of the best performing social media stocks and carries a consensus buy rating from most analysts on the street which is seen as a huge positive.
When looking at the daily charts for Facebook Inc, the stock has been in a strong uptrend since the beginning of the year and have outperformed the broader market indices. The stock currently trades above all important daily moving averages. The momentum indicators for Facebook Inc continue to trend higher and show no signs of a reversal which is indicative of the strong buying interest. The stock has been forming higher tops and higher bottoms indicative of the fact that bulls are using every dip in the stock as a buying opportunity which is positive. Traders believe the stock could head to levels of $108 in the near term.
(c) 2015 NEWVISION. ALL RIGHTS RESERVED. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers