Fact: ‘Fake News’ Giants Facebook, Google, New York Times Are Near Buy Points | Stock News & Stock Market Analysis

Futures for the S&P 500 index, Nasdaq 100 and Dow industrials were little changed late Tuesday after the major averages resumed their glacial advance during the regular session. Facebook (FB) and Google parent Alphabet (GOOGL), which have become the top online news sources despite accusations about “fake news” stories, are near buy points. So is the New York Times (NYT), despite claims from President Trump and supporters that it’s failing and full of fake news. Meanwhile, Micron Technology (MU) tumbled late on a planned stock offering.

XAutoplay: On | OffFacebook and Alphabet’s Google, along with other social networks and internet giants, have disclosed Russian ad buys, apparently with the goal of influencing and discrediting U.S. elections. For hours after the Las Vegas shooting, Google prominently displayed false information from conspiracy site 4chan regarding the tragedy. Both Facebook and Google have been beefing up efforts to weed out false stories.

Facebook, Google

But Facebook and Google remain more popular than ever. The two FANG stocks are close to buy points.

Facebook is in a flat base with a 175.59 buy point. A 4.5% tumble on Sept. 25 served as a shakeout, with shares quickly rebounding toward the potential entry, Facebook fell 0.5% to 171.59 in Tuesday’s stock market trading.

Alphabet lost 0.45% to 987.80 on Tuesday, pausing after building the right side of its base from late September to Monday’s intraday high of 1,000.46. The Google parent has a potential entry of 1,008.71.

The New York Times

The New York Times has been a big winner from Donald Trump’s presidency, as many Americans, especially liberals and progressives, rush to subscribe to the publication. The Washington Post, owned by Amazon.com (AMZN) CEO Jeff Bezos, also has seen a subscriber boom.

New York Times shares rose 0.3% to 19.25 on Tuesday, finding support intraday at their 50-day moving average. The New York Times is in a short, shallow cup base with a buy point of 27.25. The stock is working on a handle that, if it reaches the five-day minimum, would create a new potential entry, but only a few cents lower.

Micron Technology

Micron Technology announced late Tuesday that it would sell some $1 billion in shares after the stock closed up 2.5% to 41.98, a fresh 16-year high, amid strong memory-chip prices. Micron shares skidded 4.4% in overnight action.


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Originally posted 2019-09-19 23:22:34.


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