META PLATFORMS INC.: THE NUMBER OF EMPLOYEES OF THE COMPANY MAY INCREASE BY 7.6% THIS YEAR
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY STOP |
| Entry Point | 486.05 |
| Take Profit | 527.00 |
| Stop Loss | 475.00 |
| Key Levels | 429.00, 466.00, 486.00, 527.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 465.95 |
| Take Profit | 429.00 |
| Stop Loss | 480.00 |
| Key Levels | 429.00, 466.00, 486.00, 527.00 |
Current trend
Shares of Meta Platforms Inc., an American multinational holding company that owns a technology conglomerate and the largest social network Facebook, are adjusting at 479.00.
UBS Group AG investment bank conducted a study according to which the total number of job advertisements for Meta Platforms Inc. is indexed at 48.0% of the level of 2018 year, during which the increase amounted to 10.5 thousand employees. This means that up to 5.1 thousand jobs are planned to be added in 2024. Thus, if the current rate of hiring continues, the growth relative to the 2023 figure of 67.3 thousand new employees will amount to 7.6%.
The company will publish a new financial report on July 24, and currently analysts expect revenue of 38.20 billion dollars, which is significantly higher than last year's figure of 32.0 billion dollars, and earnings per share (EPS) may amount to 4.70 dollars, also higher than 2.98 dollars a year earlier.
On March 26, for the first time in the history of Meta Platforms Inc., dividends of 0.5 dollars per share were paid, but it is not yet clear whether they will be permanent.
Support and resistance
On the D1 chart, the quotes are moving in a global uptrend, holding just above the support line of the channel with the borders of 550.00–430.00.
Technical indicators have begun to strengthen the buy signal again: the fast EMAs of the Alligator indicator are above the signal line, and the AO histogram, being in the sales zone, is held very close to the transition level.
Support levels: 466.00, 429.00.
Resistance levels: 486.00, 527.00.
Trading tips
If the local growth of the asset continues and the price consolidates above the resistance level of 486.00, one may open long positions with the target of 527.00 and stop-loss of 475.00. Implementation time: 7 days and more.
If the downward movement continues and the price consolidates below the support level of 466.00, one can open short positions with the target of 429.00 and stop-loss of 480.00.
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