META: Channel Up will attempt to close the February 2022 Gap.META maintains the aggressive four month Channel Up on an overbought 1D timeframe (RSI = 73.991, MACD = 9.890, ADX = 37.410) that shows no signs of easing before the next Resistance and that is located at 328.00, which was the High of February 2nd 2022. After that the stock price plunged to 245 following the loss of investor confidence. It would appear that the rally won't stop until it closes at least that Gap. As a result we go on a short term buy, targeting the Resistance (TP = 328.00).
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4FB trade ideas
"Never bet against Zuck" $META topping out hereThere are many people that think that NASDAQ:META will keep rallying here to new highs. I'm not one of them.
Lately I've been seeing people post "Never bet against Zuck." That tells me all I need to know about sentiment here at the highs.
Like many other assets, I think META has rallied due to a technical bear market bounce and is now losing steam.
We've either already put in a top here at resistance, or there is one more move slightly higher to $307.54 that will pull in the last of the holdouts that haven't invested yet before dumping on them.
I don't care about narratives, whether it's AI, threads, VR or whatever fundamental reason you can give a company for "needing to go up."
The reality is, it's all about market structure and what price action says. And to me, we're nearing a top that will take price back to below the previous low we hit last year.
Let's see how it plays out over the coming year.
Meta Will Perform!Hi mates, sharing weekly chart of meta so as we can see price is trading in a rising channel and now gives a breakout close above a strong resistance so i am expecting that this uptrend will continue till to the next weekly supply zones into this channel.
KINDLY NOTE-: This is not and trade or investment advice. This idea is meant for learning only.
Regards-: Amit
Adding to META short Adding to my META short position. We're trading at a resistance level and have some early selling. Would not rule out this spiking a big higher (Maybe after a bear trap) but I like this general zone for shorting.
I think this is good for shorting call spreads on and using the premium to buy more speculative OTM puts.
Call me crazy... but META to $21- This is probably my hottest take I will probably ever have but here it is... META is going to $21 all the way back 2013 prices. This to me looks like a bigger scale of Elliott Wave here. W1 on the macro scale was from 2012-2021 for just W1.... and the way everything is going in the world and how business can't afford employees anymore and people are slowly losing their net worth as rates and cost of food and living keep increasing while wages are stagnant at. It all correlates in my opinion. This macro W2 we are in and have been in we just don't see it is going to get ugly once this C wave comes alive. The B wave we are in could last longer but we are in the region which is drawn on the chart of the fib levels to where we see a reversal to the downside.
I would not be a buyer on this stock, but honestly would buy some PUT OPTIONS OTM very far out and take a risk.. why not
Opening (IRA): META August 18th 225 Short Put... for a 2.48 credit.
Comments: A little bit more single name toward the top of my IV screener. Targeting the <16 strike paying around 1% of the strike price in credit to emulate dollar cost averaging into the underlying without actually being in the stock.
Earnings are on July 26th, so I'll be "playing through."