META: Soon to be the leader in the AI race? (29/02/2024)
The Information announced that Meta Platforms Inc. intends to introduce an updated version of its AI program LLaMA (Large Language Model Meta AI). According to the company, LLaMA outperforms GPT-3 in most parameters. Thus, Meta aims to establish itself as a leader among the developers of artificial intelligence technology. Considering Facebook's billion-dollar audience, the company may have significant revenue growth prospects.
So, today is the right moment to look at the Meta Platforms, Inc. (NASDAQ: META) stock chart.
On the D1 timeframe, support has formed at 480.60, with resistance at 487.27. A fairly narrow channel has developed between these levels. The uptrend continues after a solid quarterly report.
On the H1 timeframe, a rebound from the 487.27 level could set a short-term target for a price increase at 520.00, while in the medium term, it could hover around 550.00.
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Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66.02% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
So, today is the right moment to look at the Meta Platforms, Inc. (NASDAQ: META) stock chart.
On the D1 timeframe, support has formed at 480.60, with resistance at 487.27. A fairly narrow channel has developed between these levels. The uptrend continues after a solid quarterly report.
On the H1 timeframe, a rebound from the 487.27 level could set a short-term target for a price increase at 520.00, while in the medium term, it could hover around 550.00.
—
Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66.02% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.