Description:
Meta (META) has been consolidating within a textbook falling wedge pattern, now showing signs of a potential breakout and bullish continuation.
Price Action Highlights:
Multiple rejections near 748 resistance
Recent bounce off the high-volume node on the VRVP with a hammer candlestick pattern
Holding above the 50-day moving average
RSI showing signs of reversal, approaching a key trendline breakout
Bullish Signal Criteria:
A breakout above the 720–725 range confirms wedge breakout
Watch for volume expansion to validate the move
Targets:
PT1: 748
PT2: 787
PT3: 840
Invalidation Level:
Close below 689.50 invalidates the setup
This setup offers a clear structure for continuation with well-defined risk levels and upside potential. Monitoring volume and RSI confirmation will be critical in the coming sessions.
Meta (META) has been consolidating within a textbook falling wedge pattern, now showing signs of a potential breakout and bullish continuation.
Price Action Highlights:
Multiple rejections near 748 resistance
Recent bounce off the high-volume node on the VRVP with a hammer candlestick pattern
Holding above the 50-day moving average
RSI showing signs of reversal, approaching a key trendline breakout
Bullish Signal Criteria:
A breakout above the 720–725 range confirms wedge breakout
Watch for volume expansion to validate the move
Targets:
PT1: 748
PT2: 787
PT3: 840
Invalidation Level:
Close below 689.50 invalidates the setup
This setup offers a clear structure for continuation with well-defined risk levels and upside potential. Monitoring volume and RSI confirmation will be critical in the coming sessions.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.