Worst for investors has yet to be seen
The weekly chart for Meta shows a company whose share price has plunged for the past weeks. A first sign that implies the company might keep falling is the fact that the 60% Fibonacci level drawn since Corona to ath has been broken during the recent sell off, meaning that worst for investors is still yet to be seen as we enter into a proven downtrend only now. Not only, but the 21 and 55 MA have death crossed, meaning that the price will likely recover for a short time, like we are doing, and then keep falling. The yellow level shows one of the strongest monthly supports at which we could expect price to hold up of, which will likely not happen. If we break below the yellow support, price will drop fast. Hopefully stopping at the first or second red level. Even though I believe it will keep falling even further.
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