The news of a 11k jobs cut had an immediate bullish impact on the Meta Platforms Inc (META) stock, helping it break above the 100.00 barrier again. Today's much lower than expected CPI number is also adding fuel on this rally but can those alone push the price out of the death spiral it has been since January in particular?
Well technically the November 03 drop made a Lower Low on the Channel Down pattern that Meta has been trading in since the February 03 collapse. Taking also into account the massive rebound below the 30.000 1D RSI oversold zone, the price can target the 1D MA50 (blue trend-line) by the end of this month. Beyond that, only a closing above the 1D MA100 (green trend-line), which is unbroken since December 30 2021, can turn the trend bullish.
As you see, the November 03 bottom was made on the January 20 2016 Low (89.25). The next Support is the August 25 2015 Low of 72.10, so we will be ready to short this and if broken then 60.00.
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I strongly disagree. Cutting the fat only rights the blood letting. Look at any publisher/broadcasters’ 4Q warnings - advertisers have packed up and went home. I know a lot of people here are probably in the younger side - so I’ll explain it simply: every major recession has been preceded by a spike in energy prices. We got out of 2008-2010 with “drill baby drill” - and we have a U.S. gov at war with its own industries and dementia at the helm. I live (most of the time) in California, fuel is $6.39 a gallon. That is about a $600-$1200 expense for young people going to work everyday (or more). Those are the consumers and that needs to come out of other spending. Savings rates have gone from the highest in record to now an all-time low (per C), and carried credit card balances have skyrocketed. People didn’t immediately change their habits - they pulled the cost increases from savings or added to credit cards - but those are short term solutions- kind of like selling SPR oil, those types of answers hit a rock bottom very hard. Expect gas to go much higher from here - diesel will hit $6 or $7 in the southeast, and the economy grinds to a crawl.
This is going to 140 then dump again, and then rally again, here’s the money maker
vincent007
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I picked this from the bottom. It's going to the moon.
shubhamjadhva23
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wrong knowledge
Imdmagic1
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Nope...the fundamentals are still garbage, and the layoffs were in all the wrong places. Plus, Zuckerberg is no leader of people. Expect another 10-15% bump followed by a 30-40% drop or more in 1Q.