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META PLATFORMS INC.: TECHNICAL ANALYSIS

amking
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META PLATFORMS INC.: TECHNICAL ANALYSIS
Scenario
TimeframeWeekly
RecommendationBUY STOP
Entry Point502.60
Take Profit540.00
Stop Loss490.00
Key Levels448.00, 484.00, 490.00, 494.00, 500.00, 502.60, 510.00, 540.00, 542.00
Alternative scenario
RecommendationSELL STOP
Entry Point484.00
Take Profit450.00
Stop Loss500.00
Key Levels448.00, 484.00, 490.00, 494.00, 500.00, 502.60, 510.00, 540.00, 542.00

Shares of Meta Platforms Inc., an American transnational holding company that owns a technology conglomerate and the largest social network Facebook, are trading at 494.00.

A correction trend is forming on the daily chart, within which the price is moving in a wide ascending range of 542.00–448.00.

On the four-hour chart, the quotes have turned around at the support line of 448.00 and are developing an upward trend to the channel resistance line of 540.00 with the main obstacle at the high of 510.00.

Technical indicators maintain a sell signal: fast EMA on the Alligator indicator are close to the signal line, and the AO histogram is forming correction bars in the sell zone.

META PLATFORMS INC.: TECHNICAL ANALYSIS

Trading tips

Long positions may be opened after the price rises and consolidates above 502.60, with the target at 540.00. Stop loss is 490.00. Implementation period: 7 days or more.

Short positions may be opened after the price falls and consolidates below 484.00, with the target at 450.00. Stop loss is 500.00.


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