Meta PlatformsLong
META - Technical Analysis & GEX Insights - Feb. 13
Technical Analysis:
* Trend Overview: Meta has been on an uptrend, pushing towards a key resistance zone.
* Support Levels: Immediate support at 712.5, with a stronger level near 690.
* Resistance Levels: Price is approaching 730, with the next major resistance near 740-750.
* Indicators:
* MACD: Positive momentum but showing signs of potential slowing down.
* Stochastic RSI: Overbought conditions, indicating a possible pullback or consolidation before another leg up.
* Volume: Increasing volume on bullish candles supports the upward move.
GEX & Option Flow Analysis:
* Call Walls:
* 730: 93.92% probability of resistance.
* 750: Highest positive NETGEX level, acting as a major resistance/gamma wall.
* Put Walls:
* 712.5: Weak support based on gamma exposure.
* 690: 11.67% put support, a stronger level to watch in case of a pullback.
* Market Sentiment:
* IVR: 8.8 (low implied volatility).
* IVx Average: 29.7 (slight decline).
* Call Ratio: 10%, indicating bullish sentiment but with caution.
Trading Plan:
* Bullish Scenario:
* A breakout above 730 could push toward 740-750.
* Entry on pullbacks near 712.5-715, targeting 740+.
* Bearish Scenario:
* If price rejects 730, a drop toward 712.5 or even 690 is possible.
* A break below 690 could trigger more downside.
Final Thoughts:
* META is bullish, but watch for rejection at 730.
* Scalpers: Trade momentum breakouts.
* Swing Traders: Look for retracements to enter long positions.
* Trend Overview: Meta has been on an uptrend, pushing towards a key resistance zone.
* Support Levels: Immediate support at 712.5, with a stronger level near 690.
* Resistance Levels: Price is approaching 730, with the next major resistance near 740-750.
* Indicators:
* MACD: Positive momentum but showing signs of potential slowing down.
* Stochastic RSI: Overbought conditions, indicating a possible pullback or consolidation before another leg up.
* Volume: Increasing volume on bullish candles supports the upward move.
GEX & Option Flow Analysis:
* Call Walls:
* 730: 93.92% probability of resistance.
* 750: Highest positive NETGEX level, acting as a major resistance/gamma wall.
* Put Walls:
* 712.5: Weak support based on gamma exposure.
* 690: 11.67% put support, a stronger level to watch in case of a pullback.
* Market Sentiment:
* IVR: 8.8 (low implied volatility).
* IVx Average: 29.7 (slight decline).
* Call Ratio: 10%, indicating bullish sentiment but with caution.
Trading Plan:
* Bullish Scenario:
* A breakout above 730 could push toward 740-750.
* Entry on pullbacks near 712.5-715, targeting 740+.
* Bearish Scenario:
* If price rejects 730, a drop toward 712.5 or even 690 is possible.
* A break below 690 could trigger more downside.
Final Thoughts:
* META is bullish, but watch for rejection at 730.
* Scalpers: Trade momentum breakouts.
* Swing Traders: Look for retracements to enter long positions.
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.