META History repeating Double Bottom leading to $800.Meta Platforms (META) almost hit its 1D MA200 (orange trend-line) yesterday, a Support level that has been holding since February 01 2023. With the long-term pattern being a Channel Up since the November 04 2022 market bottom, yesterday's Low is similar to the Double Bottom on Meta's previous Accumulation phase on October 26 2023.
That day's Low started the 2nd Bullish Leg of the Channel Up that peaked on April 08 2024 after a +95.14% rise. This is the exact same % rise as the Feb 24 2023 - July 28 2023 Bullish Leg, which was the 1st of the Channel Up.
As a result, this is technically the most optimal buy opportunity on a long-term basis for META, with a technical Target at $800.00 (+95.14% as the previous 2 Bullish Legs).
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Metasignals
Meta stock for Short in Strong Up Trend.meta stock is currently in strong up trend but in shorter duration is will likely to consolidate and show down trend towards 520-510 . weekly duration we can see little downside in meta stock.
META New rally to $800 started.Meta Platforms (META) is consolidating within the 1D MA50 (blue trend-line) and 1D MA100 (green trend-line) only 3 weeks after it touched the bottom (Higher Lows trend-line) of the 1-year Channel Up.
This is the start of the new Bullish Leg of the pattern, half-way through the accumulation process. Once the 1D RSI breaks above its Lower Highs trend-line, we will have a bullish confirmation signal similar to October 06 2023. Our Target is $800.00, which represents a +95% rise, similar to both previous Bullish Legs of the Channel Up.
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TESLA lays off more than 10% staff. Is this its 'META moment'?It was reported this morning that Tesla (TSLA) "will lay off more than 10% of its global workforce, an internal memo seen by Reuters on Monday shows, as it grapples with falling sales and an intensifying price war for electric vehicles".
The market has so far reacted with strong selling of more than -3% in early trading. But is this really bad news?
Not so long ago (November 09 2022), another high tech giant that was heavily decimated at the time, Meta Platforms (META), announced lay offs of around 13% of the company (more than 11000 employees). This was just 5 days after the November 04 2022 market bottom. The result (chart on the right) was an aggressive recovery above the 1D MA50 (blue trend-line), which turned into a Support for 240 days straight.
Of course the fundamental difference is that the 2022 Low for Meta was the Bear Cycle bottom of the Inflation Crisis while Tesla's Channel Down has been the picture of its underperformance for almost a year relative to the rest of the market (and the Magnificent 7 in particular).
However it shouldn't be overlooked that such cost driven news are fundamentals capable of turning the profitability of a company around and Meta's case is such a representative example. Meta was massively oversold in November 2022 (-75% from ATH) and similarly Tesla is massively oversold now (-60% from ATH). Meta managed to completely recover and smash through to new All Time Highs (+38% from previous ATH). In November 2022 it was all doom and gloom for the social media giant and it is worth searching for news headlines at the time to see the similarities with Tesla's situation today.
Time will tell of course, but we wanted to bring this comparison to you and help you draw your own conclusions.
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META Is it finally time to correct?Meta Platforms (META) has been among the biggest winners in 2023 and of course is having a great start to 2024 as well. Those who follow us know that we have been big bulls on META even right on its 2022 bottom (see charts below), when most of the market had lost faith in the company's operations, business model and its ability to generate profit.
We even mapped to perfections its V-shaped recovery to new All Time Highs (ATH)
As the company had one of its best 1W candles in history last week following the dividends announcement, we are starting to consider a short/ medium-term pull-back for the stock. This is also justified by historic price action. Since the current large Megaphone pattern started in mid 2018, META has corrected to or below its 0.236 Fibonacci retracement level within a -16.00% to -19.77% decline range, 5 times. On all cases except for the initial 2023 recovery, the 1W RSI was overbought above the 70.00 mark. Right now the 1W RSI is on its most overbought state in history.
As a result, we have a growing belief that it is time for the social media giant to start correcting again. A minimum of -16.00% decline will deliver a $410.00 Target level for META, just below the 0.236 Fibonacci level. Note that during all such declines, the 1W MA5 (blue trend-line) provided support, closing all candles above it.
Do you think it is time for a 4 - 6 week correction?
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META One more rally before correction.Meta Platforms (META) gave us an excellent bottom buy opportunity last time we looked at it (December 08 2023, see chart below) having hit already Target 1 (350.00) and currently going for Target 2 (384.50) following the Higher Highs break-out:
As long the Higher Highs trend-line holds, we expect a technical rejection at or slightly above the 384.50 All Time High (ATH) target and subsequent correction towards at least the 1D MA50 (blue trend-line). The last medium-term correction has been -8.70%, which gives us a minimum target of 351.00 on the downside.
If the decline extends, we can see a maximum (from a technical perspective) decline of around -15.75% (similar to October 26 and August 18 2023) that could test the 1D MA200 (orange trend-line) and will be the strongest long-term buy opportunity.
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META Is it a BUY again?Meta Platforms (META) hit our $320.00 target after our most recent November 19 call (see char below) following a clear rejection on the Higher Highs trend-line:
The stock has since held the 1D MA50 (blue trend-line) as its short-term Support and turned into a buy again. The short-term target is still limited to the Higher Highs trendline and in that sphere of logic, we will target $350 (Target 1).
If however Support 1 (313.50) breaks, we might see another almost -16% decline, similar to the previous two bearish legs since July 28, which can test the 1D MA200 (orange trend-line). That will be the strongest buy opportunity on the medium-term and we will target again the Higher Highs trend-line at $360 (Target 2).
Any candle closing above the Higher Highs trend-line will be an automatic bullish break-out signal, targeting straight the All Time High at $384.50.
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META Buy only if this trend-line breaks.Meta Platforms (META) hit last week the top (Higher Highs trend-line) of the Ascending Triangle pattern after breaking the previous High (Resistance 1 at 330.00). This is so far the peak of the technical rally and we will buy only after 1D MA50 (blue trend-line) pull-back (1D RSI ideally on the Support Zone) or if the price closes a 1D candle above the Higher Highs trend-line first. In both cases, the bullish target will be 384.50. Until though the Higher Highs trend-line breaks, we will be selling, targeting 320.00.
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META Is it a buy again?Two months since we gave a successful buy signal (see chart below) on Meta Platforms (META) and the stock is yet again found after an aggressive selling sequence:
The (almost) 12-month long Bullish Megaphone may be still intact but this time the price dropped below both the 1D MA50 (blue trend-line) and the 1D MA100 (green trend-line). It is however approaching not just the bottom (Higher Lows trend-line) of the Bullish Megaphone, but also Support 1 (274.50).
What makes Meta a strong buy already is that the 1D RSI entered the Buy Zone, which is the area within the bottom of its Channel Down and the Support. As long as the 1D MA200 (orange trend-line) holds, buying some here and the rest at the bottom of the Bullish Megaphone is the most optimal approach for the medium-term.
As you can see, the price action follows very distinct time Cycles (dashed curves) and right now the new one is about to begin. Our target is the $384.50 All Time High of September 01 2021.
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META First Buy signal in a month.We have been issuing strong buy signals on Meta Platforms (META) since November last year. A perfect example was our February 02 (see chart below) analysis that came with a huge final bullish warning while the price was still at $189.00:
Following the recent -15% pull-back, the strongest correction basically since the November 03 2022 market bottom, the stock price is flashing again the first buy signal on the medium-term as it is testing the 1D MA50 (blue trend-line) as a Resistance after a rebound near the 1D MA100 (green trend-line), which has been intact since January 10.
On top of that, the 1D MACD is on course to form the first Bullish Cross below 0.0, since November 09 2022, which was essentially the bottom of the Bear Cycle. As long as the 1D MA100 is intact, we will buy the 1D MA50 (candle) closing and target 326.25 (Resistance 1). If it closes a 1D candle below the 1D MA100 instead, we will wait and add a 2nd buy position at 260.00, near the Higher Lows trend-line and keep it as long as the 1D MA200. The target for that position will be even higher, as it will be a long-term buy signal, aiming at the All Time High of 384.50.
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META Is this the start of a significant correction?Since November last year we have been issuing a strong buy signal on Meta Platforms (META) and our most recent analysis on February 02 (see chart below) came with a huge final bullish warning while the price was still at $189.00:
The stock hit $320.00 last week, almost filling the gap with the 1W candle of January 31 2022 (practically META's start of collapse) and pulled-back. The big question on the market this week is, can that be the start of a greater correction?
Well technically it is testing today the first key support level, the Higher Lows trend-line (bottom) of the 6 month Channel Up pattern that started in late February. If broken, it is unlikely to see the 1D MA50 (red trend-line) hold.
The key (technical) reason behind it, is the massive Bearish Cross that got formed this week on the 1W MACD. This is a major development as it is a rare event that always initiated a rather notable pull-back. More specifically, in the past five (5) years, we have had another six (6) 1W MACD Bearish Crosses, all making a Lower Lows after it. The minimum correction was -17.33% while the maximum -43.50%. Practically META made its large corrections (-43.50%, -38.60%) when it faced legal action and during the pandemic. The rest standard (technical) pull-backs ranged from -17.33% to -19.70% (also -28.15% on the last Bearish Cross but fundamentals were also present).
This is the reason we expect a pull-back below the 1D MA50 if the Higher Lows of the Channel Up fail (to close 1D candles above it). The minimum projected correction range of -17.33% would give us a pull-back to $265.00. A -19.70% would give $256.00.
That would start making META a technical buy again, where long term investors can start applying buying strategies with a tolerance level up to the 1W MA50 (blue trend-line).
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META suppressed by the 0.786 level of the golden section! META suppressed by the 0.786 level of the golden section!
This chart shows the weekly candle chart of META stocks over the past two years. The graph overlays the top to bottom golden section of 2021. As shown in the figure, the high point of META stock in the past two weeks has been suppressed by the 0.786 level of the golden section in the figure, and it has now returned to below the 1.000 level of the golden section! In the next few weeks, the META stock is likely to step back at the 1.382 position in the golden section of the chart, and then choose a direction to break through!
Meta waiting for selling a stop order !according to my chart analysis Meta Facebook will go down if price reached entry level .
META You were warned. This is a V-shaped recovery.Meta Platforms (META) stock is surging through the roof following the encouraging Fed outlook on future rate hikes and Zuckerberg's promises on stock buy-backs, cost cutting and focus on profitability.
We warned META was an excellent buy last month after closing two straight green monthly candles as well as back in November when we advised to buy at the bottom, an article that naturally made the Editor's Pick of TradingView:
Now that our $173 target got hit, which was calculated on the Inverse Head and Shoulders dynamics, we will again look at the even wider picture on the 1M time-frame:
The price has smashed through the 1W MA50 (blue trend-line) and the 0.5 Fibonacci retracement level and the next technical target is the 0.618 Fib, with the 1W MA200 (orange trend-line) right above it. We don't expect that to happen overnight but by the end of Q2 and of course there will be weekly pull-backs to take advantage of and the red 1W RSI overbought zone can really help estimating them as it has been extremely accurate since April 2019.
Then depending on whether or not the Fed pauses on its rate hike policy, we can see an end of the year rally above the 0.786 Fib, which by that time will have set in motion a complete gap fill on the $385 All Time High.
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META The worst is history! 6 straight green weeks.Our update on The Meta Platforms (META) on the 1W time-frame.
What stands out is that the stock has completed six (6) straight weekly candles, for the first time since March 2017! This is one of the strongest bullish sequences in its history and while at it, it has established 2 weeks above the 1D MA100 (green trend-line) for the first time since its September 2021 All Time High!
The short-term target is the 1W MA50 (blue trend-line), which is within the technical target of the Inverse Head and Shoulders (IH&S) that we can argue formed the October 2022 market bottom. With the RSI hitting the top of a Higher Highs trend-line that started on March 28 2022, it is possible to see a minor pull-back now to test the 1D MA50 (red trend-line) as a Support, but that will be the best long-term buy opportunity before we hit the 1W MA50.
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META Closed 2 straight green months, the first time since 2021!Meta Platforms (META) is on a strong January monthly candle (chart on the right) having closed in December two straight green months for the first time since August 2021, which was its All Time High. This alone is a huge bullish development, which along with the 1M RSI being on an Inverse Head and Shoulders pattern (IH&S), it can start staging its long-term bullish reversal.
On the more medium-term 1D time-frame (chart on the left), Meta also made a significant bullish development, as yesterday it clearly broke (but failed to close) above the 1D MA100 (green trend-line), for the first time in one whole year (since December 30 2021). Having turned the 1D MA50 (blue trend-line) into a Support this last month (since December 12), if it manages to close a daily candle above the 1D MA100, the stock's next aim would be the 1D MA200 (orange trend-line).
The 1W RSI also had a major bullish break-out as it broken above a Resistance Zone holding since August 15, that previously had rejected the price a total of three times (Triple Top). In our view we can claim that Meta has a sustainable bullish reversal only if it breaks above the 1D MA200.
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META tradeplanHello Birdies,
As we see alot of resistance on chart in form of channel retest and pivot circles.
Get ready for shorting this stock.
We are seeing bounce area on 78 and on 58
META reached our target. What's next?Over a month ago (November 10) we posted our outlook on the Meta Platforms Inc (META) following the cutting of 11k jobs (also feature on the Editor's Pick):
As you see our target has been hit as the price rose and reached the top of the Channel Down pattern that the stock has been trading in since February. The buy signals at the time were obvious as the 1D RSI bounced on the Oversold Zone as it did back in late February/ early March. The question is what happens now?
Well we will not diverge from our usual pattern break-out strategies. Right now the stock is on sell levels, being that close to the top (Lower Highs) trend-line of the Channel Down as well as having hit the RSI's Resistance Zone (red). As you see, this is the zone where since November 15 2021 (i.e. more than a year) forms all the Lower High rejections on META. For as long as this holds, we expect the price to hit 89.25 (January 20 2016 Low) and the 72.10 (August 25 2015 Low).
On the other hand, we will buy if the price breaks above the 1D MA100 (green trend-line), which has been unbroken since December 30 2021, and target the 1D MA200 (orange trend-line). A candle closing above the 1D MA200 (preferably on the weekly scale), should be enough to confirm META turning bullish on the long-term.
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META Can cutting 11000 jobs reverse the bearish outlook alone?The news of a 11k jobs cut had an immediate bullish impact on the Meta Platforms Inc (META) stock, helping it break above the 100.00 barrier again. Today's much lower than expected CPI number is also adding fuel on this rally but can those alone push the price out of the death spiral it has been since January in particular?
Well technically the November 03 drop made a Lower Low on the Channel Down pattern that Meta has been trading in since the February 03 collapse. Taking also into account the massive rebound below the 30.000 1D RSI oversold zone, the price can target the 1D MA50 (blue trend-line) by the end of this month. Beyond that, only a closing above the 1D MA100 (green trend-line), which is unbroken since December 30 2021, can turn the trend bullish.
As you see, the November 03 bottom was made on the January 20 2016 Low (89.25). The next Support is the August 25 2015 Low of 72.10, so we will be ready to short this and if broken then 60.00.
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META staging a short-term rally. Long-term levels to consider.Meta Platforms (META) are on a three day bullish streak following favorable group fundamentals and is rebounding off the bottom (Lower Lows trend-line) of the Falling Wedge pattern it has been trading in since February price collapse.
The short-term target is technically the 1D MA50 (blue trend-line), which is just below the top (Lower Highs trend-line) of the Falling Wedge. We may also see a slight break-out as the Bullish Divergence spotted on the 1D RSI was last seen on the March 14 Low and a +27.50% rebound followed. If this is replication, the price can reach roughly 157.00, which is where the 1D MA100 (green trend-line) is currently sitting. That is the medium-term Resistance as it has been unbroken since December 30 2021, so basically for the whole 2022. A break above it would target the 1D MA200 (orange trend-line), which is the barrier that distinguishes the bearish from the bullish trend long-term.
On the flip-side, if META closes below the bottom (Lower Lows trend-line) of the Falling Wedge, expect a sharp drop to the 1.5 Fibonacci extension (92.70).
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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 Bottom formed. Ready to break 4 month Resistance.It hasn't been that long since we last took a look on the Meta Platforms (META) and called for the last chance to find buyers and reverse its fortunes:
As you see since then, the stock has been trading sideways within a consolidation phase of lots of uncertainty fundamentally. Today however, the price broke above the Shoulder line of a Head and Shoulders pattern that started last month. Technically, this could be the ideal bottom formation for the majority of investors, with the price also above the 1D MA50 (blue trend-line).
With the 4H MA50 (red trend-line) supporting, if the price breaks above the April 05 Lower Highs trend-line, it will most likely be the final confirmation that the company has re-entered its long-term growth trend. Ideally, we would like to see the 1D MA100 (green trend-line) break but the Lower Highs trend-line could do alone, especially with the 1D RSI on Higher Lows since June 22, indicating a strong underlying bullish sentiment. Our medium-term target is the 1D MA200 (orange trend-line).
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META Last chance to reverse their fortunesMeta Holdings (META) has been trading within a Channel Down ever since the huge early February gap down. The stock has failed to recover its lost 1W MA200 (orange trend-line) on the first rebound attempt and since it has been trading far from it as investors along with other known macro-economical parameters (inflation, war, Fed) are gradually losing faith in the company.
This is Meta's final attempt to reverse this sharp correction and find buyers as the price is now below the 2.0 Fibonacci extension, which is the level that has supported and kickstarted aggressive rebounds since April 2016. In fact you can see that with the application of the Fibonacci Channel extensions, from the moment Meta (formerly FB) started trading, slight breaks below the 2.0 Fib, have initiated three major rallies of +1 year.
If this is the level that saves the day for Meta indeed, investors will still have a Higher Highs trend-line to consider that has rejected the price three times already (red flags) but we will have time to make updates until then. Failure to hold this Support, could mean complete loss of investor confidence and the beginning of the end for the social media giant.
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