New York, NY -- (ReleaseWire) -- 11/15/2012 -- Facebook Inc. (NASDAQ:FB), the social networking giant, is seeing a correction in its shares in trading today following Wednesday’s huge rally that saw the stock finish 12.59% higher. FB is currently down 1.68% to $21.99 on volume of 45.08 million. The correction is likely due to profit booking after Wednesday’s rally.
FB rallied on Wednesday even as more than 800 million shares hit the market following the expiration of lock-up period. Despite Wednesday’s gains, FB is still significantly below its IPO price of $38.
FB’s technical indicators are giving bullish signal right now. The stock is trading above its 50-day moving average.
Find out for how many trading session this correction could last by reading the free trend analysis report here: FB, Trend analysis report
Microsoft Corporation (NASDAQ:MSFT), the maker of Windows operating system, is marginally lower in mid-day trading today. MSFT has fallen sharply in the last one week. The stock is down more than 9% since November 9. Earlier this week, MSFT fell on news that initial sales of the company’s Surface tablet have been modest. The stock extended its losses after the company announced the departure of its Windows chief.
MSFT is currently trading 0.22% lower at $26.78 on volume of 24.43 million, which is below the daily average volume of 56.07 million. The volume activity in trading today suggests that the bearish trend seen in MSFT shares may be coming to an end and stock could see a rebound in the next few trading sessions.
Find out if MSFT could bounce back by reading the free trend analysis report here: MSFT, Trend analysis report
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