The recent top is our first pivot point, we will anchor short entries below the 472 level with target 1 at the previous top 384. This is the first test trade against a pivot top and a tight stop range should be set.
There is a massive short coming which will be a steep fall, a crash fractal unless the cycle alters in an unlikely event.
Trade safe, stay...
Like many of the other tech stocks META looks extended here.
I could see one more move up into the $350 region, and if it hits there, I think that sets up a good short opportunity.
Lots of people saying we're starting a new bull trend, but what makes me think that's not true?
In a bull trend, you see a slow rise up, not a 300% bounce in a year. That indicates...
META had a pretty good breakdown on it earnings and has retested nicely. Breaching below the 100-MA and has a rather large air pocket to the 200-MA. Plenty of good spots to put a stop loss.
The squeeze to the upside was phenomenal!
But in my view, they over-pumped it - who ever it was...
The white Center-Line provided good support when price failed at the GAP/Resistance Zone. this zone is built just with the range of the GAP-Bar.
After the CL support, meta reached the another temporary high at the orange CL, bounce back to the white CL again and...
Following weekly,
I got an overbought signal from my indicator and I think this is the end of run, we can expect some pull back to FIBO.
TP 230
SL 269 - please wait weekly close.
NASDAQ:META
Rejecting candle, Gap below, Weak on green days, Meta is on the way to close the gap.
TP - Gap close if reject or cpi will change the results may close trade before.
NASDAQ:META has rallied since the earnings of late October, but is still in a long-term bearish channel.
It has retraced 78.6% of the the gap (down) made the day of its Earnings report.
I can picture the stock rallying to $130, but not much farther, and then being smacked down around mid-to-late December.
Meta - 30d expiry - We look to Sell a break of 107.98 (stop at 115.15)
The primary trend remains bearish.
There is no clear indication that the downward move is coming to an end.
This is curremtly an actively traded stock.
108.32 has been pivotal.
A break of the recent low at 108.32 should result in a further move lower.
Our overall sentiment remains...
As you know, I am a long term investor. Thus, I usually buy stocks for the long term, and never short any equities due to shorting's unlimited risk. With a P/E ratio of 10, it would be reasonable to think that META is a good bargain considering its status as a social media giant. However:
1. META's Userbase is declining, something never seen before in the history...
Bearish on $META below 137 until 123 unless break AND hold above 143. $VIX is also showing bullish context to comfirm this $META bear flag (failure to go lower) @ Weekly level 137. Would take majority of profit off the table at $128.71 because their may be a pullback to retest around 135.
Meta has hit the levels 155-158 multiple times, it is more likely that the stock would tend to move lower to the next support.
The next support area currently is at 149 levels.
