Technical analysis The start of 2022 hasn’t been pleasant for Meta (FB.) The stock has been plummeting since December 28, when it reached a monthly high of 352. The selling pressure continued at the turn of the year, and it broke the previous support of 322.
On January 26, the stock hit a low of 289, the level it last reached on March 2021. The resistance levels 327 and 343 are important for the stock to continue the upward movement. If the stock breaks above these levels, it may reach 352 or even cross that level. Oppositely, if the stock goes below 280, it could tank towards 250, the level seen in January 2021.
All the indicators suggest a downward trajectory of the stock. The RSI and MACD are pointing downwards on the daily chart, and the 100-day Moving Average is above the price level.