Year-to Date performance from
META
already been down 65%.
If we take a look from the Weekly Chart, major downtrend has been occured since end of October 2022 and started to give some reversal signal until today.
Weekly Candle position is in the resistant area from the major downtrend formed since early 2022.
In the smaller timeframe (4H), META's candle form a consolidation area with resistant range between $122.53 - $124.670 (Last $120.27).
Additional information on other indicators which I regularly used for my analysis (using 4H Chart):
1. Stochastic repetitively Golden and Dead Cross in between value area of 50 and currently %K above %D and the value is above 50.
2. Squeeze Momentum Indicator shows narrow Histogram and Squeeze Signal has been shown a squeezed since 16 Dec 2022.
3. MACD is currently in a positive area and tend to flat in the area near 0 value
4. Pivot Weekly movement in the Central Pivot Range since 12 Dec 2022 and candle position currently above its Monthly Pivot Range.
Next week will be interesting if the candles can breakout 2 resistant area: Down Trend Line and Horizontal Area or when Squeeze is released with Positive Histogram on 4H Chart.
Pay attention to 4H Chart EMA200, because META's position has been below EMA200 since Q4 2021 and only occasionally above it until today, expect heavy resistant near EMA200.
Is it time for Zuckerberg to strikes back?
Disclaimer:
Writer is not responsible for any trading activity by individual who read this analysis.
Writer do not have any position in
META
when this analysis is posted.
META
already been down 65%. If we take a look from the Weekly Chart, major downtrend has been occured since end of October 2022 and started to give some reversal signal until today.
Weekly Candle position is in the resistant area from the major downtrend formed since early 2022.
In the smaller timeframe (4H), META's candle form a consolidation area with resistant range between $122.53 - $124.670 (Last $120.27).
Additional information on other indicators which I regularly used for my analysis (using 4H Chart):
1. Stochastic repetitively Golden and Dead Cross in between value area of 50 and currently %K above %D and the value is above 50.
2. Squeeze Momentum Indicator shows narrow Histogram and Squeeze Signal has been shown a squeezed since 16 Dec 2022.
3. MACD is currently in a positive area and tend to flat in the area near 0 value
4. Pivot Weekly movement in the Central Pivot Range since 12 Dec 2022 and candle position currently above its Monthly Pivot Range.
Next week will be interesting if the candles can breakout 2 resistant area: Down Trend Line and Horizontal Area or when Squeeze is released with Positive Histogram on 4H Chart.
Pay attention to 4H Chart EMA200, because META's position has been below EMA200 since Q4 2021 and only occasionally above it until today, expect heavy resistant near EMA200.
Is it time for Zuckerberg to strikes back?
Disclaimer:
Writer is not responsible for any trading activity by individual who read this analysis.
Writer do not have any position in
META
when this analysis is posted.