META at a Decision Point! Gamma Pressure Building – Intraday Tra🔍 Technical Analysis (TA) – Intraday Outlook
Current Price Zone: ~$605
* META is sitting just above a key demand zone (595-585).
* It has pulled back from recent highs near 633, failing to hold the upper breakout.
* We saw a Break of Structure (BOS) followed by a lower high, suggesting weakness.
* A bullish CHoCH occurred prior, but it needs to defend current levels to remain valid.
Indicators:
* MACD: Bearish crossover, momentum fading. Needs confirmation for reversal.
* Stoch RSI: Oversold, which may suggest a short-term bounce or relief rally if price respects 595 support.
Key Support Zones:
* 595 → Key support, aligns with GEX Negative Wall (highest negative NetGEX zone).
* 590 → 2nd PUT Wall.
* 585 → 3rd PUT Wall and ultimate line before major structure breaks.
Key Resistance Zones:
* 620 → 2nd CALL Wall.
* 633-640 → Strong call resistance. Rejected earlier here.
* 650 → 3rd CALL Wall, extreme resistance unless there’s a breakout event.
🧠 GEX & Options Flow Analysis (via TanukiTrade )
* GEX Sentiment: 🔵🔵🟢 (Mildly Bullish/Balanced)
* IV Rank (IVR): 33.8 – Slightly elevated, but not extreme.
* IVx Avg: 39.9 – Options pricing reflects a moderate volatility environment.
* Call$%: 11.6% → This shows PUTS are dominating the flow, which often supports the underlying.
* Highest Negative NetGEX: At 595, giving strong put-based dealer support.
* CALL Resistance: 620 → 640 → 650.
* PUT Walls: 595 → 590 → 585.
📌 This 595 area is heavily defended by dealers and acts as a gamma magnet zone, especially for mean reversion trades. It may also act as a base for bounce plays.
🔧 Trade Setups
📈 Bullish Scenario:
If META holds above 595 and breaks back above 610 with volume:
* Entry: Above 610 confirmation.
* Target 1: 620
* Target 2: 633 (previous high)
* Stop-Loss: Below 595
* Options Strategy:
* Buy Apr 12 $620 Calls on confirmation above 610.
* Alternatively, sell $590 Puts if confident in support holding.
📉 Bearish Scenario:
If META loses 595 with high volume and no bounce:
* Entry: On breakdown of 595.
* Target 1: 590
* Target 2: 585
* Target 3: 574 (range lows)
* Stop-Loss: Above 605
* Options Strategy:
* Buy Apr 12 $590 Puts
* Or try a Put Debit Spread (595/585) for limited risk.
🧭 Bias & Final Thoughts:
* Short-term Intraday Bias: NEUTRAL → LEANING BEARISH unless 610 is reclaimed.
* GEX Bias: SUPPORTIVE under 595, but capped above 633.
* Watch for reaction at 595 – it’s the key battleground today.
📛 Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always do your own research and trade responsibly.
