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Solidified
Jan 4, 2024 9:32 PM

$META Finds Strength at Key Support Amidst $SPY, $QQQ Downturn Long

Meta Platforms, Inc.NASDAQ

Description

In today's trading session, we witnessed a significant divergence in market behavior. While AMEX:SPY and NASDAQ:QQQ experienced notable downturns, NASDAQ:META demonstrated resilience by adhering to a crucial support zone. This is further emphasized by its rebound off the bottom of the current uptrend channel, forming a 2-1-2u reversal pattern. This pattern could be indicative of a potential shift in market sentiment, especially with the upcoming NFP data release. Traders should keep a close watch on NASDAQ:META for possible trend continuation or reversal signals. Chart attached for detailed analysis.
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