Meta PlatformsLong
META Consolidation Breakout: Going With the Flow For Now
Fundamentals:
I just checked out META's balance sheet. Its sales were over 20% for the first time since December 2021. I would like that to continue for two more quarters because the last two were not as good; however, they did accelerate consecutively since August or December 2022. That was the bottom of the stock's fall.
Technicals:
As sales accelerated into 2023, the stock formed a stage 1 bottom around January 2023 to March 2023. It was a 5 week base after a prolonged downtrend from Sept. 2021 to January 20223.
Kijun Trend Bounce+Wicked Daddy Deeper Pull Back Squeeze
Breakout of stage 2 consolidation
Trade Plan:
I will add META next week with a stop below 277, risking about 0.2%.
I just checked out META's balance sheet. Its sales were over 20% for the first time since December 2021. I would like that to continue for two more quarters because the last two were not as good; however, they did accelerate consecutively since August or December 2022. That was the bottom of the stock's fall.
Technicals:
As sales accelerated into 2023, the stock formed a stage 1 bottom around January 2023 to March 2023. It was a 5 week base after a prolonged downtrend from Sept. 2021 to January 20223.
Kijun Trend Bounce+Wicked Daddy Deeper Pull Back Squeeze
Breakout of stage 2 consolidation
Trade Plan:
I will add META next week with a stop below 277, risking about 0.2%.
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