Meta Platforms (META) Shares Dip Below $550Meta Platforms (META) Shares Dip Below $550
On 7 October, we analysed the Meta Platforms (META) price chart and highlighted:
→ The formation of a long-term upward channel (marked in blue).
→ The key drivers supporting bullish sentiment.
We also emphasised the psychological significance of the $600 level.
Since then, the price has approached this level four times, only to be met with resistance each time (indicated by red arrows).
Yesterday, for the first time since mid-September, META’s price fell below $550, suggesting that the stock underperformed the broader market during October and November.
What’s Next?
Technical analysis of the META price chart reveals that the stock is trading within a range defined by:
→ Resistance at $600, which has consistently proven robust.
→ Support at $545, a level that previously acted as resistance (marked by arrows).
While the channel median initially acted as a “magnet” for the price (highlighted with an oval), November patterns suggest the median now "repels" the price downward, a bearish indicator.
Bullish momentum might regain strength if the price approaches the lower boundary of the blue channel. However, the sustainability of demand at these levels and whether it can drive a successful breakout above $600 remains uncertain.
Analysts remain optimistic. According to a TipRanks survey:
→ 40 out of 44 analysts recommend buying META shares.
→ The average 12-month price target for META is $662.
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META trade ideas
META breaking down to 520 to 539The chart for META indicates a symmetrical triangle, a consolidation pattern suggesting indecision in the market. This setup is characterized by converging trendlines, with lower highs and higher lows, pointing toward an imminent breakout. The current price action is nearing the apex of the triangle, increasing the likelihood of a breakout or breakdown soon. The price is nearing the apex of the triangle, and a breakdown is likely within the next 3–5 trading sessions. Volume confirmation is critical to validate the breakdown direction.
Entry Strategy:
Enter a short position if the price breaks and closes below $555.00 with strong bearish momentum and volume.
Bearish Target: Subtract $15.44 from the breakdown level of $555.00 → $539.56. Place a stop-loss above the upper trendline at $570.00. Take partial profits at $545.00, then hold for the full target of $539.56.
I have taken a put position as I favor bearish breakdown and have taken 520P for 11/29/24 @1.38.
META LIQUIDITY BEAUTY Beautiful display from META on the liquidity taking on the minor bearish trendline just to rebound to the demand area.
I expect meta to do another run to Supply and head back to the demand area closest to the major trendline before either continuing down or reversing finally.
I am bullish this week with that beautiful BULLISH HARAMI at least for this week beginning.
META Oversold? My Layered Exit StrategyNASDAQ:META saw a significant drop this week, and I believe it's currently oversold.
My strategy is to scale out in layers:
Green: 50%
Yellow: 25%
Purple: 15%
Blue: 10%
Once we hit the Green level, I’ll move my stop loss to my entry price.
I plan to exit my entire position if we don’t see a significant move by 20:00 on November 19th. If we haven't made progress by then, I anticipate a further dip.
META TANKER FORECAST Q4 FY24 im expecting a retracement from this high
and im expecting it to end around the last 3 levels
Forget the financials (28.1 p/e overvalue bonanza yikes)
forget zucks new look
forget the multi timeframe divergences
forget the weakening impulses (from may)
forget the bubbles which follow the hype of innovation
its just a matter of boom and bust and the feds rate cut is just a matter of history repeating itself
this post was requested by 5 others in my d.m and just in time too everything going kaput
feel free to request yalls
METAMeta Stock Prediction: A Bearish Outlook
Many are betting on the stock's rise, but I completely expect the opposite. Let me explain why. The stock is forming a dangerous divergence on the weekly chart with both the MACD and RSI indicators.
Secondly, the stock was in a clear upward channel from August 2024 to November 2024, as shown. It then formed a downward trend between the sessions of October 7 and October 30, 2024, as illustrated. Today, the stock broke through this trend with significant force. The stock had tested the trend at the beginning of the week, and today it broke the downward channel with a strong bearish candle.
Not only that, but the $602 level, which is its highest peak, coincides with a Fibonacci retracement level of 1.618 between the numbers shown ($603 and $602). Therefore, we expect $602 to be the peak for 2024.
We recommend entering a short position from this level to capture a significant swing. Our initial target is $493, then $415, followed by $380, and finally $297. The stop loss should be set above $603.
Good luck to everyone!
$META drop to $480?If we look at the NASDAQ:META chart, we can see that price has rejected from the top resistance multiple times and has now formed a lower high.
If price can't manage to break above that level, then the most likely scenario is that we see a breakdown from here down to that first support level and trend line at the $478-484 level.
Let's see how it plays out over the coming weeks.
META can turn bearish if it fails to break this Channel.Our previous call on Meta Platforms (META) was on July 26 (see chart below), almost 4 months ago when we gave a strong long-term buy signal on the 1D MA200 (orange trend-line):
Despite the excellent timing of the call, we has seen in the past 30 days that the price action has diverged from the model and the current Bullish Leg of the Channel Up isn't as strong as the previous two inside a 2 year span that each rose by +95%.
The price has instead turned sideways, mimicking the price action of the two Accumulation Phases that emerged after each of the Bullish Legs topped. The 1D RSI being on a Bearish Divergence (Channel Down already) technically agrees with that, so if you followed our July buy call, it might be best to book the handsome profit now and wait.
What to wait for? Well it all depends on a new pattern that has emerged, a Diverging Channel Up (dashed trend-lines). As long as the price is trading inside it, there is greater probability to give us a lower buy entry near the 1D MA200 (orange trend-line) again. In that case we will take it and target the top of the Diverging Channel Up at $660.
In the event that the price breaks above the Diverging Channel Up, we will buy the bullish break-out and pursuit the previous $800 Target as that would mean that the original 2-year Channel Up remains the underlying pattern dictating the long-term movement of the stock.
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$META Long. Shhhhh don't wake it up! www.tradingview.com
Disclaimer: The information provided in this post is for general informational purposes only and does not constitute financial advice. Please consult with a qualified financial advisor for personalized advice tailored to your specific financial situation.
Ascending Triangle Pattern Tutorial: 3/8 Bullish PatternsAscending Triangle Pattern Tutorial: 3/8 Bullish Patterns
An ascending triangle is a bullish continuation chart pattern that signals the potential for an upward breakout. Here's how it forms:
Flat Upper Trendline: The upper trendline is flat, indicating a resistance level where the price consistently faces selling pressure and fails to move higher.
Rising Lower Trendline: The lower trendline is ascending, showing higher lows as buyers step in at increasingly higher prices.
Price Convergence: The price action gets squeezed between the two trendlines, leading to a tightening range.
Breakout: Eventually, the price breaks above the resistance level, indicating a continuation of the upward trend. This breakout is typically accompanied by a surge in volume.
Ascending triangles are popular among traders because they offer clear entry and exit points. The height of the triangle, measured from the base to the horizontal resistance, can be used to estimate the potential price target following the breakout.
LIKE l FOLLOW l SHARE
How This 3 Step System Is Showing META Stock As A BuyAm so tired right now feeling like i need more sleep than
am already getting..
Capitalism is a hard topic to study
And keep up with
Yesterday i was reading a book by Robert Kiyosaki
and inside the book called Second Chance
He encouraged practising.
This is why before you start trading i would
say use the paper trading account
Feature on Tradingview first before you
dive into using real money
Thats the key to mastering trading
yes it may be a bit boring at the start
but if you continue pushing for your
financial education you will learn
how to trade.
Full disclosure am not a day trader
but instead am a swing trader
meaning i trade with the trend..
when you are trading with the
trend you have to use the following
3 step system called the rocket booster
strategy:
(1) The price has to be above the 50 EMA
(2) The price has to be above the 200 EMA
(3) The price has to gap up in a trend
Looking at this price of NASDAQ:META
That is what you are seeing.
Also, note the “gap” that happened
4 days ago?
META is notorious for performing well in swing
trades..maybe this time will be different...
Rocket boost this content to learn more.
Disclaimer:Trading is risky you will lose money whether you
like it or not please learn risk management
and profit-taking strategies
because you will lose money whether you like it or not.
Top 5 Weekly Trade Ideas #3 - META LongMETA has potential to break out here and continue higher after holding, but if it doesn't I'll be looking for longs near $573.19. Tight stop below, final downside target would be demand/previous ATH near $544.45. First upside target for the long would be around $588. Shorting at the gap fill near $588 has potential as well.
META: A Dangerous Inflection Point! (D&H Chart Analysis).Daily Chart (Left)
Ascending Channel: The price has been trending within an ascending channel, indicating a strong upward trend that has held for a considerable period.
Double Support Area: There is a critical support zone at $561.52, marked by both horizontal support and the lower trend line of the ascending channel. This convergence of support points suggests that this level is pivotal for maintaining the current trend.
Price Reaction: Recently, the price tested the support area and rebounded, but it is still below the 21-day EMA.
Hourly Chart (Right)
21-Hour EMA Resistance: The price recently encountered resistance at the 21-hour EMA as well, which may act as a short-term barrier for further upward movement.
Pullback Zone: The recent dip tested the support area around $561.52, validating it as a strong inflection point. The price is now attempting a recovery from this support level.
Conclusion:
The $561.52 level is crucial for both bullish and bearish traders. If the price maintains above this zone, there could be potential for a rebound and continuation within the ascending channel. Conversely, failure to hold this support could lead to a bearish reversal or deeper correction. Keeping an eye on the reaction to the 21-hour EMA will provide clues for short-term movement.
For more detailed technical analyses and insights like this, be sure to follow my account. Your support helps me continue providing valuable content to help you make informed trading decisions.
Remember, real trading is reactive, not predictive, so let's stay focused on the key points described above and only trade when there is confirmation.
“To anticipate the market is to gamble. To be patient and react only when the market gives the signal is to speculate.” — Jesse Lauriston Livermore
All the best,
Nathan.
META eyes on $568 then 564 for shallow retrace targets META hit a Genesis fib at $600 and is retracing.
Ideal dip would be to the red 4.236 at $568.25
Deeper retrace and must-hold fib is at $564.27
Those levels assume a shallow correction.
If it goes deeper than we will recalculate.
But if strong bull, then it will be shallow.
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