TradingShot

META Is it a BUY again?

Long
BATS:META   Meta Platforms, Inc.
Meta Platforms (META) hit our $320.00 target after our most recent November 19 call (see char below) following a clear rejection on the Higher Highs trend-line:


The stock has since held the 1D MA50 (blue trend-line) as its short-term Support and turned into a buy again. The short-term target is still limited to the Higher Highs trendline and in that sphere of logic, we will target $350 (Target 1).

If however Support 1 (313.50) breaks, we might see another almost -16% decline, similar to the previous two bearish legs since July 28, which can test the 1D MA200 (orange trend-line). That will be the strongest buy opportunity on the medium-term and we will target again the Higher Highs trend-line at $360 (Target 2).

Any candle closing above the Higher Highs trend-line will be an automatic bullish break-out signal, targeting straight the All Time High at $384.50.

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