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 521.27.

Yesterday it became known that the company abandoned its plans to release the La Jolla mixed reality headset, which was supposed to compete with the Apple Vision Pro. It was planned that the product would go on sale by 2027, but the company agreed that it would not be able to keep its cost below 1000.0 dollars due to the use of expensive technologies. Meta Platforms Inc. intends to continue the project in partnership with other technology companies, in particular, the Indian Reliance Jio Infocomm Ltd., and continues to develop cheaper models such as Quest 4, which is scheduled for release in 2026.

The emitter's financial report for the second quarter showed revenue growth to 39.07 billion dollars from 32.0 billion dollars over the same period a year earlier, while earnings per share (EPS) rose to 5.16 dollars from 2.98 dollars last year. In the third quarter, analysts expect revenue of 40.03 billion dollars, the highest in the last few years, and EPS could reach 5.17 dollars.

Support and resistance

On the D1 chart, the asset continues to move in an uptrend and is held near the resistance line of the channel with boundaries of 540.00–453.00.

Technical indicators have begun to strengthen the buy signal again: the fast EMAs of the Alligator indicator are held above the signal line, and the AO histogram, being in the buy zone, forms ascending bars.

Support levels: 510.00, 453.00.

Resistance levels: 540.00, 587.00.

Trading tips

If the local growth of the asset continues and the price consolidates above the resistance level of 540.00, one may open long positions with a target of 587.00 and a stop-loss of 520.00. Implementation period: 7 days and more.

If the downward movement continues and the price consolidates below the support level of 510.00, one can open short positions with a target of 453.00 and a stop-loss of 530.00.