NASDAQ:META Meta Platforms, Inc.
Meta seems to be reversing off the bottom of the channel which has held meta price action lower since the February gap down on results. This reversal is coinciding with news that the FCC boss mentioned that the US Should ban TikTok - widely known to be one of facebooks fiercest competitors in the space. Let's see if we can get some follow through on this move..
Also forgot to mention the area around 95 is also the 78.6 fib retrace area which connects the all time lows from IPO days and the all time highs which makes it a little more significant for a bottom to try and transpire from these levels. Obviously, far from being out of the woods, but nevertheless important to monitor the action from hereon
This idea played out as expected - got nerve wrecking against the bottom of this trendline but eventually played out nicely back to mid trendline of channel where it was fitting to bank profit for ST positions
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