META price has increased dramatically during yesterday's trading session.
META has published positive earnings and announced that they will pay dividends in the future.
That's it for the good fundamental news.
As a technical trader, I like looking at price action and trading activity.
I noticed that retail activity has increased more than 300% yesterday, retails investors/gamblers FOMO-ed to buy the stock yesterday.
For that reason (betting against the crowd) + the potential false breakout of the multi-weeks channel + the crazy price increase that occurred in the past year and a half (90 to 480 USD), I have opened a short position via options with expiration June (to be safe).
I think the price will retest the 400/410 region at least by June.
META has published positive earnings and announced that they will pay dividends in the future.
That's it for the good fundamental news.
As a technical trader, I like looking at price action and trading activity.
I noticed that retail activity has increased more than 300% yesterday, retails investors/gamblers FOMO-ed to buy the stock yesterday.
For that reason (betting against the crowd) + the potential false breakout of the multi-weeks channel + the crazy price increase that occurred in the past year and a half (90 to 480 USD), I have opened a short position via options with expiration June (to be safe).
I think the price will retest the 400/410 region at least by June.
Comment:
I just closed my short now in the money +12.52%
I think the price will remain in the 445/455 area for a while.
I think the price will remain in the 445/455 area for a while.
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