Several market reviews9. 30. 22 META Is a great example of how the strategy of buying and holding can be very expensive. If I were trading support, I would be long is this stock because it's oversold. On the other hand, it's a market that is giving back 70% of its games from 2013.And the devaluation the dollar is far more then 20% since 2013. This is a simplistic evaluation ignoring splits and dividends e t c. Tesla it's a much stronger stock, even though it's held up it's price very well considering the recent markets, it has made lower lows and lower highs and it is still close to the high. This kind of a pattern we concern me, and I would be very cautious about buying and holding in this market, and I would look for the market to trade lower if we are indeed entering into a depression. Natural Gas futures have corrected 38% to a support area which is a good bubble to go long if you find buyers. But the price is coiling...Which suggests to me that it is not clear for both the buyers and the sellers until the market starts to expand a little bit. In this case it's much better the sit tight market to give you a clue... this means that it has to expand, and this means that the market might make a couple of counter directional news before there is clarity. We will look for it as it happens....will talk about it when something happens. Meta Tstla Natural Gas
Meta
Meta Platforms' Facebook Due for Likely 200% RiseBased on the my all time perception of Facebook's price pattern, I believe the Social Media giant will see a timely 200% swing over the next 16-24 months. This observation/idea is based solely on Elliott Wave Theory. For more profitable ideas and trade discussions, let's discuss it in the Digital Surf Trading Community.
META (1W) - Short term Correction UPwards. Wave B coming ? Heloo Traders and all kinds of Speculators :),
Today i got interested into META ( Facebook) which lost around 65% from its ATH. You can see that chart forms something similar to Falling wedge or Ending diagonal within wave (v) of A.
If so, we could reach a support ideally at 125usd. (or range between 130-110usd).
From where corrective wave UP could begin. With possibility to gain +50 to +75%. Sell zone is between 190-230 USD.
For such move the entire market should enter another bear market rally and a lot of Positive news (Temporarily).
At price around 125USD ... the P/E Ratio will be 10,5 which is very tempting for company like Facebook.
Consider your Risk : Reward ratio. Hopefully no Long-term investor will take this chart too serious for some significant position. (It could be but i think another wave C will come)...
Take care and trade safe. ;)
META Buy signal within the Falling Wedge.The Meta Platforms (META) have been trading within a Falling Wedge pattern since the April 05 High. After that we've had two Lower Lows and two Lower Highs. On Tuesday the stock came to its closest to the Lower Lows trend-line since June 23. As the 1D RSI breached the 30.000 oversold barrier, we have a strong short-term buy signal in our hands, targeting the 1D MA50 (blue trend-line) and the top of the Falling Wedge.
* A break above the 1D MA100 (green trend-line), which has been untouched since December 30 2021, can extend the uptrend on the medium-term towards the 1D MA200 (orange trend-line).
* A break above the 1D MA200, which has been untouched since January 06 2022, can be enough to restore the bullish trend on the long-term.
* A break below the Falling Wedge, can accelerate the selling targeting the 1.5 Fibonacci extension.
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META EASY SCALPING IDEA $$$META has been in a constant downward wedge for the past 5 days, as you can see. It has been following the wedge precisely and is near maturity. I've included take profit signals for quick and easy profits, However, a stop loss of 1-2 $ below the wedge should be added in case it breaks apart.
META Growth is Building Global Expansion and Adoption.META is down 64.50% from it's All Time Highs and reaching an area where we like the potential for some basing price action. We could get a spike well into our Target areas of 142.32 with some profit taking and another chance of potentially retracing to our 139.11 for developing into the counter trend Day 1 reversal and confirmation.
At our Firm, we've adopted the metaverse and virtual world with complements into our AI framework. Another to watch with META is RBLX.
I've been watching SPX and SPY (charts below) and have been nibbling on Semiconductor stocks. There is going to be upward 'back-filling' in that direction.
META FACEBOOKHELLO GUYS THIS MY IDEA 💡ABOUT META is nice to see strong volume area....
Where is lot of contract accumulated..
I thing that the buyers from this area will be defend this long position..
and when the price come back to this area, strong buyers will be push up the market again..
UPTREND + Support from the past + Strong volume area is my mainly reason for this long trade..
IF you like my work please like share and follow thanks
TURTLE TRADER 🐢
Big Tech - Head & Shoulder Pattern Galore These four big tech stocks are on thin ice.
A break of these necklines suggests more downside. These levels likely indicate around 11,900 on the Nasdaq as the line in the sand.
Question is, does this lead to capitulation or a longer duration downtrend. TBD...
Nasdaq 11,900 level = red line
The Meta Beta - MetaStill looks good for META here and SNAP as well. Markets need to rally from here, but even if the markets are weak, META and other beaten down tech may bounce anyway. Weekly bull divergence should not be ignored, also holding trend (see below) from previous falling wedge structure.
BTC OverlookHere's my simple yet effective outlook on BTC.
We've hit the 3rd touch of the trend line
Obvious current support is around 18.5-18000. a breach below and we will see the fear stage kick in where BTC flushes down to next support
next support is around 14-12k. here for me is the bottom and ill be buying my first whole BTC for a long term hold. although ETH will perform better this decade for sure.
thanks
Meta Platforms (NASDAQ: $META) Seeing Massive Bullish DivergenceMeta Platforms, Inc. develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, wearables, and in-home devices worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment's products include Facebook, which enables people to share, discover, and connect with interests; Instagram, a community for sharing photos, videos, and private messages, as well as feed, stories, reels, video, live, and shops; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices through chat, audio and video calls, and rooms; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately. The Reality Labs segment provides augmented and virtual reality related products comprising virtual reality hardware, software, and content that help people feel connected, anytime, and anywhere. The company was formerly known as Facebook, Inc. and changed its name to Meta Platforms, Inc. in October 2021. Meta Platforms, Inc. was incorporated in 2004 and is headquartered in Menlo Park, California.
$META Wyckoff Accumulation - Panic Selling - FACEBOOK BULLISHMeta - Facebook
Chart resembling a Wyckoffian pattern - occurs in accumulation phase.
You can see Facebook has had a big downfall from its top in September 2021.
We can view the selling climax, preliminary support, and the secondary test - this particular pattern has a spring currently (panic selling) (breakdown of continuation).
This is NOT the last line of defense for META, it can absolutely drop down - there is huge support at $139 - which would tap the lower trend of the falling wedge (marked in light grey trendlines).
HOWEVER!!!!! -- check out the descending channel within the falling wedge - (descending channel is marked in green and highlights the Wyckoff Schematic ) and it seems to have found support at the 'spring' - bottom of the trend.
This is generally a bullish pattern.
To the left we can see a huge capitulation volume bar from February 2022 and the price as been descending all summer - selling volume is also in decline which is bullish.
This is not financial advice but this is my take on $META
Did the close hint at something bigger coming? SPX AAPL BTC METAQuick video after that strong close. I did expect a drop down, but the buying at the end was very impulsive - interesting. Could it be a hint that after the large sell off we may expect a surprise rally? I don't think anyone expects it - but some evidence is there in AAPL, META and BTC. It will be interesting to see how the market reacts to the numbers tomorrow at 8:30am. If we get a surprise rally, it would certainly throw off the vast majority who are expecting a small bounce and then further downside. I have been in that camp, but the end of the day makes me question my assumptions at this point. I hope it's helpful.
good luck and see you tomorrow!
META (NASDAQ:META) Doubts at fair valueHaving some doubts looking for facebook and metaverse in the short-mid term.
I cannot rely on my opinions and I estimate fair value at $158 with my algorithms running on fundamental data and forecast earnings.
Mr Market and the chart have the last word. Watching actual price is at my forecast fair value, also at a strong trendline (weekly chart) and at 0.618 Fibonacci Level.
This is not enough to buy now. Waiting signals on volume still missing and I want to see a strong rebouncing and accumulation.
If a breakdown will occur below the trendline and 0.618 level, my buy value will be close to $128 that is my estimate fair value less my margin of security (15-20%)
$XLC a bottom bounce and an interesting observation. Happy Labor Day Weekend Chart Watchers.
Its been awhile since I last posted anything but I figured this would make for some good conversation. The Communications sector has been the worst performer YTD of all the SPDR sectors. This weekly chart shows that it might be at an inflection point. First, lets discuss the chart. I am a long term investor. I like to view things in terms of weeks, months and years. This is the chart I use 99% of the time. The chart is a weekly candle chart utilizing a 10 Period EMA moving average and a 40 period SMA moving average. These are my primary trend following tools. My primary oscillators are the RSI and the Mansfield RSI. I'm sure everyone is familiar with the RSI indicator. For those of you not familiar with the Mansfield RSI it is comparison tool with a 52 period moving average overlaid. Basically it is a ratio chart turned into an indicator and made popular by the Stage Analysis Method developed by Stan Weinstein. Most investors use "ABC/SPY" as their ratio comparison chart. I use ITOT as I like to compare the stocks I am looking at against the entire market, you get the idea.
XLC is roughly down 30% YTD. It is the 5th Largest Weighting in the S&P, not an insignificant sector. This chart shows the following: a sector clearly in a downtrend as it is below both moving averages. a weekly candle testing the support created by its previous closing low. As the sector made new lows from March through June, RSI clearly bottomed. The sector made a low in June and then tested its low again at the end of August (to the penny I might add). As this happened RSI swung higher and created a positive divergence. Very interesting!
I think this sector is setting up for a bounce higher going into the end if the year. The Mansfield indicator is still showing a sector suffering from underperformance. If you are someone looking for relative strength to confirm absolute strength then look for the Mansfield indicator to take out the 0.63 level.
Observations: if the worst performing sector of the year holds its lows while the overall market is under pressure does the S&P trade below its June lows? If the worst performing sector turns around and swings higher, what is the overall market doing in that scenario? Its probably moving higher. Obviously if this sector breaks lower then the June lows on the S&P are most likely taken out. However, the evidence as I see it today argues for lows to hold and for a swing higher into the end of the year. Happy Charting!!!
Thanks for reading. Good luck to all!