Meta Platforms - Watch the earnings!
Updated
Hello Traders and Investors, today I will take a look at Meta Platforms.
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Explanation of my video analysis:
For more than five years Meta Platforms has been trading in a reverse symmetrical triangle formation. We saw the last retest of support back in the end of 2022 which was followed by a decent rally of +450% towards the upside. At the moment Meta Platforms is retesting the upper resistance of the triangle formation so it is quite likely that we will see at least a short term rejection towards the downside.
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Keep your long term vision,
Philip (BasicTrading)
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Explanation of my video analysis:
For more than five years Meta Platforms has been trading in a reverse symmetrical triangle formation. We saw the last retest of support back in the end of 2022 which was followed by a decent rally of +450% towards the upside. At the moment Meta Platforms is retesting the upper resistance of the triangle formation so it is quite likely that we will see at least a short term rejection towards the downside.
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Keep your long term vision,
Philip (BasicTrading)
Comment
Seems like we nailed the short setup on Meta with the earnings play.Now it is time for a retest of the next stucture as shown below:
Comment
Seems like we saw the anticipated drop, now back again to the previous highs.Keep in mind though that the upper resistance of the triangle is still valid...
Comment
Unfortunately no retest of the previous structure - market is too bullish.Still we now have the valid resistance of the reverse triangle:
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Keep your long term vision.
Click here: basictrading.net
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Keep your long term vision.
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