Note

Meta Platforms Inc.: technical analysis

· Views 9



Meta Platforms Inc.: technical analysis
Scenario
TimeframeWeekly
RecommendationBUY STOP
Entry Point576.00
Take Profit616.00
Stop Loss568.00
Key Levels470.00, 511.00, 543.00, 554.00, 567.00, 576.00, 616.00
Alternative scenario
RecommendationSELL STOP
Entry Point554.00
Take Profit511.00
Stop Loss565.00
Key Levels470.00, 511.00, 543.00, 554.00, 567.00, 576.00, 616.00

Shares of Meta Platforms Inc., an American multinational holding company owning a technology conglomerate and the largest Facebook social network, are trading at 567.00.

A correction trend is forming on the daily chart, within which the price is held in a wide ascending channel with dynamic boundaries of 576.00–470.00.

On the four-hour chart, the quotes reached the resistance line of 476.00. Despite the slowdown, a consolidation above the year’s high of 543.00 may follow.

Technical indicators maintain a buy signal: fast EMAs on the Alligator indicator are moving away from the signal line, and the AO histogram is forming correction bars in the buy zone.

Meta Platforms Inc.: technical analysis

Trading tips

Long positions may be opened after the price grows and consolidates above 576.00, with the target at 616.00. Stop loss — 568.00. Implementation period: 7 days or more.

Short positions may be opened after the price declines and consolidates below 554.00, with the target at 511.00. Stop loss — 565.00.


Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.

FOLLOWME Trading Community Website: https://www.followme.com

If you like, reward to support.
avatar

Hot

No comment on record. Start new comment.