On the above 10 day chart price action has rallied 500% since October 2022. It is somewhat unfortunate to see so many long ideas at the moment.
Motley Fool August 8th:
“Here's how Meta could achieve a $2 trillion valuation within three years, and if it does, investors who buy the stock today could earn a 67% return.”
Very misleading.
Why bearish?
Failed support. It is very clear to see, price action has broken through support and confirmed it as resistance. You can see this more clearly on the Log chart below.
Regular bearish divergence. Multiple oscillators now print negative divergence with price action across a 50 day period.
On the monthly chart below a hanging man candle print can be seen. Although the candle does not confirm until the end of the month there is a clear indication of buyer exhaustion. This is an important trend reversal indication.
Is it possible price action continues to rise? Sure.
Is it probable? No.
Ww
Log chart
Monthly hanging man candlestick
Motley Fool August 8th:
“Here's how Meta could achieve a $2 trillion valuation within three years, and if it does, investors who buy the stock today could earn a 67% return.”
Very misleading.
Why bearish?
Failed support. It is very clear to see, price action has broken through support and confirmed it as resistance. You can see this more clearly on the Log chart below.
Regular bearish divergence. Multiple oscillators now print negative divergence with price action across a 50 day period.
On the monthly chart below a hanging man candle print can be seen. Although the candle does not confirm until the end of the month there is a clear indication of buyer exhaustion. This is an important trend reversal indication.
Is it possible price action continues to rise? Sure.
Is it probable? No.
Ww
Log chart
Monthly hanging man candlestick
Note
at resistance... you were warned... Trade active
Same divergence used on previous market pivots now prints, except this divergence is a little stronger than previous.A 70% correction printed in 2021,
5 week
Note
Europe expected to tariff META, Amazon, Apple & Google online services... It would be easy to do and considering how much of an important cash cow this is for online based services in the US. Am thinking the Administration din't think this one through... cnbc.com/2025/04/04/how-the-eu-could-target-us-big-tech-with-its-tariff-response.html
BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.