META at a Critical Reversal Zone! Trade Setups for Feb. 20
Technical Analysis (TA) Overview
META is currently trading near 701, in a downward channel after rejecting from 740. It recently found support around 690-695, which aligns with a key put wall support zone. If bulls can hold this area and push above 709-715, META could see a reversal toward 720-730. However, failure to reclaim 709 could lead to further downside toward 690-680.
📌 Key Support & Resistance Levels:
* Resistance: 709.95 (resistance zone), 715 (gamma resistance), 720-730 (major breakout area)
* Support: 695-690 (major demand zone), 680 (next strong put wall support)
📌 Indicators:
* MACD: Bearish but showing early signs of flattening—possible shift.
* Stoch RSI: Overbought at 81.78, meaning bulls may struggle for immediate upside.
* Volume Profile: Heavy trading volume near 701-703, suggesting possible consolidation before the next move.
Gamma Exposure (GEX) & Options Sentiment
🔹 Call Walls (Resistance):
* 715: Short-term gamma resistance—bulls need to break this level for momentum.
* 730-750: Major call resistance—META would need strong buying pressure to reach these levels.
🔹 Put Walls (Support):
* 690: Strong put support—buyers may step in here.
* 680: If 690 fails, next major support zone.
🔹 Options Sentiment:
* IVR: 9.3 (low implied volatility—potential for a sharp move).
* Call Open Interest: 16.9% – Low bullish positioning, indicating cautious sentiment.
Trade Scenarios for Tomorrow
✅ Bullish Setup:
* If META breaks above 709-715, expect a push toward 720-730.
* Ideal entry: Above 710, stop-loss below 705.
* Profit targets: 715, 720, 730 (extension).
❌ Bearish Setup:
* If META fails at 709 and breaks below 695, expect a move toward 690-680.
* Ideal entry: Below 695, stop-loss above 700.
* Profit targets: 690, 680, 675 (extension).
Probability Estimate for META’s Next Move: Bullish Move Above 709-715 (Targets 720-730)
Scenario Probability (%): 45%
Reasoning: META is attempting to bounce from key put support (690-695).
• Needs strong buying volume to reclaim 709-715. | | Choppy/Sideways (Range 690-710) | 35% | - Volume profile suggests heavy activity around 700-703, meaning price could consolidate.
* MACD is bearish but flattening, signaling indecision. | | Bearish Breakdown Below 695 (Targets 690-680) | 20% | - Put support at 690 is critical, but if it fails, bears could take control.
* If selling pressure increases, expect downside to 680-675. |
Final Thoughts
* META needs to break 709-715 for further upside toward 720-730.
* If 695 fails, selling pressure could increase, pushing price to 690-680.
* Low IVR suggests a breakout is coming, but direction is uncertain.
🔹 Best Trading Plan:
* Bullish Play: Look for a breakout above 710 → target 715-730.
* Bearish Play: Watch for rejection at 709-710 or a break below 695 → target 690-680.
🚨 Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always conduct your own research and trade with proper risk management.
META is currently trading near 701, in a downward channel after rejecting from 740. It recently found support around 690-695, which aligns with a key put wall support zone. If bulls can hold this area and push above 709-715, META could see a reversal toward 720-730. However, failure to reclaim 709 could lead to further downside toward 690-680.
📌 Key Support & Resistance Levels:
* Resistance: 709.95 (resistance zone), 715 (gamma resistance), 720-730 (major breakout area)
* Support: 695-690 (major demand zone), 680 (next strong put wall support)
📌 Indicators:
* MACD: Bearish but showing early signs of flattening—possible shift.
* Stoch RSI: Overbought at 81.78, meaning bulls may struggle for immediate upside.
* Volume Profile: Heavy trading volume near 701-703, suggesting possible consolidation before the next move.
Gamma Exposure (GEX) & Options Sentiment
🔹 Call Walls (Resistance):
* 715: Short-term gamma resistance—bulls need to break this level for momentum.
* 730-750: Major call resistance—META would need strong buying pressure to reach these levels.
🔹 Put Walls (Support):
* 690: Strong put support—buyers may step in here.
* 680: If 690 fails, next major support zone.
🔹 Options Sentiment:
* IVR: 9.3 (low implied volatility—potential for a sharp move).
* Call Open Interest: 16.9% – Low bullish positioning, indicating cautious sentiment.
Trade Scenarios for Tomorrow
✅ Bullish Setup:
* If META breaks above 709-715, expect a push toward 720-730.
* Ideal entry: Above 710, stop-loss below 705.
* Profit targets: 715, 720, 730 (extension).
❌ Bearish Setup:
* If META fails at 709 and breaks below 695, expect a move toward 690-680.
* Ideal entry: Below 695, stop-loss above 700.
* Profit targets: 690, 680, 675 (extension).
Probability Estimate for META’s Next Move: Bullish Move Above 709-715 (Targets 720-730)
Scenario Probability (%): 45%
Reasoning: META is attempting to bounce from key put support (690-695).
• Needs strong buying volume to reclaim 709-715. | | Choppy/Sideways (Range 690-710) | 35% | - Volume profile suggests heavy activity around 700-703, meaning price could consolidate.
* MACD is bearish but flattening, signaling indecision. | | Bearish Breakdown Below 695 (Targets 690-680) | 20% | - Put support at 690 is critical, but if it fails, bears could take control.
* If selling pressure increases, expect downside to 680-675. |
Final Thoughts
* META needs to break 709-715 for further upside toward 720-730.
* If 695 fails, selling pressure could increase, pushing price to 690-680.
* Low IVR suggests a breakout is coming, but direction is uncertain.
🔹 Best Trading Plan:
* Bullish Play: Look for a breakout above 710 → target 715-730.
* Bearish Play: Watch for rejection at 709-710 or a break below 695 → target 690-680.
🚨 Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always conduct your own research and trade with proper risk management.
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.