Still room to run to 420 (at least)

JerryManders Updated   
BATS:META   Meta Platforms
META target by end of Feb 2024 is 420.

3 most likely paths to target:

1) 1pt solid black arrow = earnings pop to 405-413 and then continue to 420 by 2/7/2024
2) 2pt (thick) solid black arrow = earnings pop and then run to 420 by 2/21 (more conservative)
3) 2pt (thick) grey arrow = drop to 373-378 after earnings which would get bought up fast and then run to 420 by end of Feb. (would be great opportunity to enter long).

Not playing this for earnings but it should be a good indicator for what market will do mid-term. My expectation is SPY will continue higher to 500+, and the earnings today 2/1 will be a catalyst for this.

I think at least 2 of 3 of the big tech earnings will be bullish todaym maybe all 3:

META to 420
AMZN to 164
AAPL to 198
Boom. 420 hit post-market. That's how its done.
444 at 4:15

Letssss goooooo
Don't short this lol.

If you are in calls I would take some profits at open. Its very bullish here, but could consolidate in the 450-470 range before moving higher. Could also pullback to test 430-435 for support and then continue higher.

We will need to see how it trades from here to determine if there is distribution or re-accumulation at these levels. In summary: sell calls for profits if you're in, hold shares if you're in, avoid entering puts, calls, or shares yet until we see some price action over the next week.
If you load new bars you'll have to scroll up (a lot) to find the price, just fyi
Welcome to the Metaverse Distribution center.. Still expecting UTAD (upthrust) well above 500 in the coming weeks - that will be the top.

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.