There are many people that think that NASDAQ:META will keep rallying here to new highs. I'm not one of them.
Lately I've been seeing people post "Never bet against Zuck." That tells me all I need to know about sentiment here at the highs.
Like many other assets, I think META has rallied due to a technical bear market bounce and is now losing steam.
We've either already put in a top here at resistance, or there is one more move slightly higher to $307.54 that will pull in the last of the holdouts that haven't invested yet before dumping on them.
I don't care about narratives, whether it's AI, threads, VR or whatever fundamental reason you can give a company for "needing to go up."
The reality is, it's all about market structure and what price action says. And to me, we're nearing a top that will take price back to below the previous low we hit last year.
even tho i sold a good portion of my holding in meta today at 305 from 97$, the stuff you are saying doesn't make sense, and if you are day trading which it appears you are , there is no room for having these mental illness, you lose all your money. Be reasonable pal.
luckysix30
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@ARCHIDUKE, Stop that, you're referring to your imaginary profit from a paper trading account. You're cucked by the zuck. Meta is garbage
benjihyam
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@ARCHIDUKE, Why doesn't it make sense? And why would I be day trading with a 5 day chart?
You clearly have no clue what you're talking about.
luckysix30
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Meta threads will fail. Lookup a dude named styxhexenhammee66* he makes a good and honest arguement.