On April 25, 2024, NASDAQ:META crashed 12% pre-market after earnings release.
The question is that whether it is a buy now?
For me I do not intend to buy on crash. I am looking for a pattern, or at least, a meaningful support, to buy.
At this level, even 12% down pre-market, I do not see any meaningful support here nor any pattern therefore I am not buying now.
META Shorting
The META chart suggests a possible short opportunity based on a the resistance on the monthly timeframe. We expect it to get rejected on that uptrend line near $527.
Short price targets 🎯 in descending order: $424 & $360
Tesla and Meta are two polar opposite trades at the moment.
Meta is likely getting rejected at resistance. Shorting makes sense
Tesla is getting a bounce at support. Longing it in that chart setup makes sense
Based on after-market price action META has already dropped from about $493 into the gap at about $420. There is room to fall further to the 200 day EMA that coincides with the previous all-time high. We would definitely expect some reaction at that point. There should be a lot of price action at this point since the gap is so large. This is a wait and see situation.
!!GAP FILLING PHENOMENON!!
1. Immediate Bearish Outlook: Meta's stock is expected to experience a significant downturn, with projections indicating a drop below $400.00 within the current week. This decline is attributed to an earnings report, which could trigger a 20% decrease and result in Gap #1 being filled.
2. Potential Further Declines: Despite previous...
META Shorting
The META chart suggests a possible short opportunity based on a the resistance on the monthly timeframe. We expect it to get rejected on that uptrend line near $527.
Short price targets 🎯 in descending order: $424 & $360
It's gone 12 months or so since Meta Platforms shareholders reached their breaking point in Q4'22 as the Tech giant's financial results in those times were following an increasingly questionable rebrand, from Facebook into Meta.
In October, 2022 Altimeter Capital Chairman and CEO Brad Gerstner said in an open letter to the Company that Meta has too many employees...
Following the market close, Meta's earnings report will be released. While I don't bearish sentiment, my trading strategy relies on patterns. Notably, Meta has demonstrated consistent upward movement over the past 5-6 months. Interestingly, what's typically perceived as good news can sometimes result in negative market reactions, and vice versa. This trend...
REASONS WHY !!
AI Integration and Advancements: Meta has been prioritizing the integration of artificial intelligence across its applications, which has played a crucial role in the company’s rally2. The market has responded positively to Meta’s efforts in developing and monetizing AI applications, leading to a boost in the stock price.
2. Digital Advertising...
NASDAQ:META Implied move for earnings today... 452 - 538 ... this is not a full analysis, just what the options are saying for the earnings move!! GL y'all...
If you haven`t sold META when ARK did that:
nor bought the META before the previous earnings:
Then analyzing the options chain and the chart patterns of META Platforms prior to the earnings report this week,
I would consider purchasing the 480usd strike price Calls with
an expiration date of 2024-5-3,
for a premium of approximately $24.80.
If these options...
Meta will likely drop into the green box. It's a confluence of the September 21 high point, the daily MA-50, and the Fibonacci 0.618 retracement. I think it will bounce there and continue its upward trajectory afterwards.
As of April 17, 2024, NASDAQ:META is trading right at the yellow trendline as shown on the chart.
A breakdown below this trendline would suggest further decline another 8%, to around $450
NASDAQ:META is losing momentum. Oscillators are currently trending down.
The company better bring a blowout quarter on April 24th ER or it risks filling the gap and checking back to that multi-year trendline. 👀
Meta Platforms Inc. is ramping up its efforts to compete with AI industry leader OpenAI by launching early versions of its latest large language model, Llama 3, and a real-time image generator. These advancements are part of Meta's strategy to enhance its presence in the AI space, integrating these technologies into the Meta AI virtual assistant. This assistant...
The 10D chart continues to show significant signs of breakdown after the 13 count. The next 10D candle begins on Friday 4/26. This candle looks to be the start of another leg down towards the 20d SMA around $400. Easy money here. a $100 Move from $500 to $400. Good Luck out there.
Meta is looking like its in phase c of a #wyckoff Distribution top. A Large Ripsaw is at play with a low at 70. #meta NASDAQ:META #facebook #stockmarket #investor
