Meta is currently reorganizing parts of the company, which resulted in 11,000 job eliminations and further cost-cutting moves. The Meta course is currently rising and expected to fall back down into a correction into the yellow trading area below the support line at $88.09. After the green wave [A] is completed, the trend should shift out of the yellow area to work its way above the resistance at $142.60. Once the Meta-course reached that mark, it should easily climb further above $171.39. If the current trend continues to rise above $142.60, with a probablity of 40%, the Meta course would follow our secondary scenario which is expected to exceed the $171.39-mark without even dropping into a correction in the short-run.
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📊 Free daily market insights combining macro + Elliott Wave analysis
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter - full free analyses at dailymarketupdate.com
🚀 Spot trends early with momentum, sentiment & price structure
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Related publications
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.