Disclaimer: This is not financial advice. Trade at your own risk.
META
gapped down overnight creating a large volume imbalance in price. Without delving into fundamentals,
META
looks like it will soon be at demand. Seeking price at a discount comes with the risk of buying before bottoming out.
It also seems like a lot of traders are fearful right now about
META
.
Looks like a lot of potential for accumulation over the next weeks/months by larger players looking for discounted price. This could mean a lot of chop and potential to fill the gap (reaching even lower) as well as returning to the highs of the volume imbalance.
META
gapped down overnight creating a large volume imbalance in price. Without delving into fundamentals,
META
looks like it will soon be at demand. Seeking price at a discount comes with the risk of buying before bottoming out. It also seems like a lot of traders are fearful right now about
META
. Looks like a lot of potential for accumulation over the next weeks/months by larger players looking for discounted price. This could mean a lot of chop and potential to fill the gap (reaching even lower) as well as returning to the highs of the volume imbalance.
Comment:
As we can see the recovery seems to have begun as a rally base rally. It's not clear if $414.00 will get tested again before going higher.