Meta Platforms
Short
Updated

META Screaming CAUTION!

1 381
The hardest thing is to call a short in a recession-proof stock, especially in the tech space. However, only so many dollars are available in the advertisement space, and it can't go up forever. Make this excuse at any price.

As such, I rely on the chart screaming CAUTION!

Again like most of my trade setups, this is a simple trade.

Bulls should take their profits and smile.
Bears short as high as possible with the internet to short more should it form a double top.

The chart has spoken. Like it or not.

Remember I am a macro trader so don't expect tomorrow to play out. My trades take time but have much bigger moves. ;)
Trade active
As I expected, the price in META continues to fall.
I see no reason why it won't continue to drop over time.

snapshot
Trade closed: target reached
Again, TradingView forces me into "Target reached." This is not good for me as a Macro Trader. I will repost this chart. SIGH!

New Lows made. Expect lower prices. Even if there is a backfill, don't get trapped long.
snapshot

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.