META PLATFORMS INC.: TECHNICAL ANALYSIS
| Scenario | |
|---|---|
| Time period | Weekly |
| Recommendation | SELL STOP |
| Entry point | 480.00 |
| Take Profit | 440.00 |
| Stop Loss | 500.00 |
| Key level | 440.00, 457.00, 480.00, 487.00, 500.00, 533.00, 541.00 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry point | 495.00 |
| Take Profit | 533.00 |
| Stop Loss | 485.00 |
| Key level | 440.00, 457.00, 480.00, 487.00, 500.00, 533.00, 541.00 |
Shares of Meta Platforms Inc., an American transnational holding company that owns the largest technology conglomerate and social network Facebook, are trading in a corrective trend at 487.00.
A sideways channel is forming on the daily chart, where the price is moving in the broad range of 541.00–440.00.
On the four-hour chart, the price is approaching the support line at 440.00: the trend is currently unstable, as shown by a large number of price gaps, the last of which was closed by yesterday's price, rising above 487.00. The next dynamic is still seen in a downward trend, where the lowest point at 457.00 is an obstacle.
Technical indicators have given a sell signal: the fast EMA on the Alligator indicator is below the signal line, and the AO histogram formed a correction bar in the sell zone.
Trading tips
Short positions can be opened after the price falls and consolidates below 480.00, with a target at 440.00. Stop loss is at 500.00. Implementation period: 7 days or more.
Long positions can be opened after the price grows and consolidates above 495.00, with a target at 533.00. Stop loss is at 485.00.
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