Long term, I think this stock is headed back to 300-400...
Short term I think it's a high chance we see 740-800...
Let me explain
Back in Feb we tagged our long term resistance, corrected and then we retested it with a lower high on the RSI (Bearish divergence) that you can see on the monthly and weekly time frame
Last few weeks Meta has pulled back while chips have pumped with good tariff news. I think Meta could be ready for another bounce here
My reasons
1. On the lower edge of daily Bollingerband
2. The 3-4 hour money flow is too oversold here. Last 4 times this happened, Meta mover 5-7%
3. Daily hammer candle with volume
Near the 50ema
4.
Meta closed below is 20ma at 715 also has stiff price action also at
So the best entry would be either to wait for a break over 720.00 then long it to 740-750..
Or 698-700
Meta would only be bearish immediately with a close below 680 price action and 50sma
tradingview.com/x/fKOYWlgi..
Keep on mind googl has earnings this week and Meta will trade in sympathy on any advertising news
The best short setup long term is to wait for a test of 780-800 on the monthly trend .
Short term I think it's a high chance we see 740-800...
Let me explain
Back in Feb we tagged our long term resistance, corrected and then we retested it with a lower high on the RSI (Bearish divergence) that you can see on the monthly and weekly time frame
Last few weeks Meta has pulled back while chips have pumped with good tariff news. I think Meta could be ready for another bounce here
My reasons
1. On the lower edge of daily Bollingerband
2. The 3-4 hour money flow is too oversold here. Last 4 times this happened, Meta mover 5-7%
3. Daily hammer candle with volume
Near the 50ema
4.
Meta closed below is 20ma at 715 also has stiff price action also at
So the best entry would be either to wait for a break over 720.00 then long it to 740-750..
Or 698-700
Meta would only be bearish immediately with a close below 680 price action and 50sma
tradingview.com/x/fKOYWlgi..
Keep on mind googl has earnings this week and Meta will trade in sympathy on any advertising news
The best short setup long term is to wait for a test of 780-800 on the monthly trend .
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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.