Meta: Further DownwardWe locate the META in a broader wave IV correction, which should unfold in a three-part - - structure. The current wave should push the price below the key support at $547.57. Once that level is broken, we anticipate a corrective rebound during wave , which should temporarily lift the price back above $547.57. The wave top should be followed by wave , which is expected to complete the overall correction with a final low inside the beige Target Zone between $491.53 and $414.50. This bottom should mark the end of wave IV. However, if the stock instead breaks out to the upside and overcomes the resistance at $740.91, we will have to expect a new high in wave alt.III before wave IV resumes its downward course (30% probability).
