META PLATFORMS, INC (FB) Analysis
META is in a bearish momentum since its last top reached on August 2021, the price was heavily rejected by 40.31%.
History shows that META's most significant drops range between 14.48% - 44.01%, which fits the current situation where we reject the price by 40.31%.
Moreover, price just reached critical support and dropped back by price 2 years back BUT we have to keep in mind that there is a strong trendline followed by 9 years of price action and we can definitely see a continuation to the downside to test the trendline.
The general outlook of META is to the upside since the upcoming META platform and new updates are yet to come.
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
History shows that META's most significant drops range between 14.48% - 44.01%, which fits the current situation where we reject the price by 40.31%.
Moreover, price just reached critical support and dropped back by price 2 years back BUT we have to keep in mind that there is a strong trendline followed by 9 years of price action and we can definitely see a continuation to the downside to test the trendline.
The general outlook of META is to the upside since the upcoming META platform and new updates are yet to come.
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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