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META PLATFORMS INCMETA PLATFORMS INCMETA PLATFORMS INC

META PLATFORMS INC

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META trade ideas

UK bans TikTok on government devicesFacebook / META is now up some 140% since the start of November with plenty of upside to all time highs. With the Zuck laying off staff left right and centre giving the stock a boost, the latest news that might keep the run going is the increasing pressure on the US and other governments to ban TikTok from mobile devices due to security of personal data concerns. In December, President Biden signed legislation prohibiting TikTok on federal government devices, joining what has become a list of more than half of US states with US lawmakers proposing expanding the Biden administration’s authority to enact a nationwide ban on TikTok. Just now, the UK has also announced that TikTok is to be banned off all their Government devices, so will be interesting to see if this spreads further to consumer devices and helps push users back to sites like YouTube and Facebook with their video shorts formats as well as their messaging services like WhatsApp. I doubt the banning of Government officials will affect any of the TikTok crowd but will be interesting to see if consumers are next and where it stops...
NASDAQ:META
by zAngus
3
How High Can Meta Fly?Meta Platforms has been flying as Mark Zuckerberg focuses on profitability and buybacks. So how high can the Nasdaq-100’s No. 2 performer this year go before profit takers step in? Today’s chart uses 2-day candles to highlight some potentially important levels. The first price zone is about $5.50 on either side of $242. The top of that area is near a bearish price gap on February 3, 2022, after a poor earnings report. The bottom of the zone matches the April 2022, which was followed by a drop of more than 60 percent. (The 2021 low of $244.61 is also in the middle of this price area.) The second consideration is the 50 percent retracement of the drop from META’s all-time high through last November’s low. That’s located at $236.21. Either way, these approaches may suggest another 10-15 percent of space to the upside. TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more. Important Information TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a Member of NFA. When applying for, or purchasing, accounts, subscriptions, products, and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means. This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates. Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: www.tradestation.com .
NASDAQ:META
by TradeStation
META Soars 100% In Less Than 4 Months! What’s Next?Meta Platforms, Inc (META) formerly known as Facebook, is the world’s largest social media platform with a portfolio of apps including Instagram and WhatsApp. It measures its user base in daily and monthly active users, with advertising being its main source of revenue. The company faces competition from Google, Twitter, Amazon, and Snapchat-parent Snap, as well as Apple, YouTube, Bytedance, and Tencent. Meta recently changed its name to reflect its focus on the metaverse. NASDAQ:META is listed on NASDAQ and is a component of NASDAQ 100 and S&P 500. Spot The Wyckoff Change Of Character From The Selling Climax META started 2022 with a gap down on 3 Feb. The Wyckoff distribution phase was prolonged and continued for several months until late October. The earning results on 27 Oct triggered another gap down and took the price to around $88. However, this down move was accompanied by a big spike in volume in comparison to previous down swings. This capitulation was considered as stopping volume and was confirmed by the higher low test with decreasing volume. The price confirmed the $88 level is Wyckoff selling climax (SC) as it rallied to $119 in mid Nov. This rally has the characteristics of a Wyckoff change of character (CHoC) where the down trend was shifted to a trading range. The price tested the $119 resistance on several occasions with relatively low volume compared to late October 2022. This was the sign of supply exhaustion and a rally could be expected. Subsequently, META started 2023 with a successful breakout from the $119 resistance and a Wyckoff sign of strength (SOS) rally. The rally was steady but reassuringly after successfully breaking out of the trading range. Then the earning results on 2 Feb provided the much needed catalyst for the price to gap up with strong momentum. Nevertheless, the price quickly pulled back from the $197 resistance to form a Wycoff back up (BU) range. The pull back was shallow, about half of the price gap on 2 Feb. Furthermore, there was no threatening volume to suggest the presence of supply. The price also confirmed the bullish momentum with another rally up that successfully stayed above the $197 axis. META Directional Bias Via Wyckoff Method Bullish. According to the Wyckoff method, META just broke out of BU range between $168 and $197. The shallow retest of $197 on 20 Mar would have been a great entry signal for a long position with the swing low of $187 as stop loss. The price might retest the $197 axis again before challenging the next immediate resistance at $245 and $322 to close the gap of Feb 2022. If the price breaks below $187, it will likely retest the support at $169 with a prolonged consolidation.
NASDAQ:METALong
by mingjong
2