META trade ideas
quickTrade Recap : $METAHow my levels worked out last week on $META.
Double breakout on both directions.
The bullish side followed the ema 21h that crossed up the 50h
META Simple Chart AnalysisMeta - Rst 196.9 Supp 167.6
Meta will retest back 196.9 area here & attempt a breakout.
META Short-Term InterconnectednessWave simulation relative to recent decline in terms of Fibonacci ratios. Using critical points of correction to build interconnected structure for determining limits of current wave as function.
Fibonacci channels are the most suitable for fractal analysis because it enables us to use specific angles which is %/Time. Like a rate of change of a function in my perception.
The steeper is the angle of FC, the more it relates to Time. (Cycle separation into stages)
Shallow angle relates more to price levels which act like boundaries of approaching wave. Some fibs will cause "reflection", some will allow the price to pass.
Bear Bounce in META May Push Further before Downtrend ContinuesPrimary Chart: Daily Time Frame, 8-D and 21-D EMAs, Long-Term Fibonacci Levels (Retracements of META's Entire Range), Uptrend from Nov. 4, 2022 Low
SUMMARY:
META remains in a severe downtrend since its all-time high in September 2021. The primary-degree trendline remains unbroken and in effect. A shorter down trendline for most of 2022 has been broken coinciding with its recent upside price action.
META is experiencing a corrective rally, also known as a bear bounce (until proven otherwise).
Bollinger Bands support the idea of further upside with the mouth of the bands expanding, and price walking the bands to the upside. The Donchian Channels also show that price is reaching multi-month highs, and its 21-period range is expanding as price pushes higher.
Target 1 lies at $142. Target 2 is $149. Target 3 is $157-$158. Each target requires that price reach and hold the prior target on a daily close. Each target is a condition precedent for the next target's viability.
Invalidation levels include the uptrend line from November 4, 2022 lows as well as major support levels at $112 (key structural low), $115-$116 (volume profile).
META began its decline much earlier than the broader indices. It peaked at an ATH on September 1, 2021, while SPX peaked on January 4, 2022. It has appeared to lead indices by a few months in this bear market. The long-term uptrend line from 2012 more than a decade ago was decisively broken in early 2022. This suggests that it may take a while for META to begin carving out a new uptrend line at a less steep angle based on whatever bear-market lows are formed—whether that be the November 4, 2022 low or a (likely) new low in 2023.
Supplementary Chart A: Monthly Chart of META with Decade-Long Upward Trendline
The bear-market downtrend lines are shown on Supplementary Chart B. The pink line on the Primary Chart reflects the primary-degree of trend since the all-time high in mid-2022. That line has not been broken, and price remains well below it. The dark-blue line is a shorter trendline that lasts for most of 2022. It was broken to the upside in early December 2022. This is no surprise. Steeper trendlines are less sustainable, and often end up being replaced by their less steep counterparts. The break of the dark-blue line is not an end to the bear market, but it does signal a short-term shift that coincides with the sideways to higher corrective rally taking place.
Supplementary Chart B: Trendlines within META's Current Bear Market
In this bear market, META made its most recent low on November 4, 2022. An uptrend drawn from that low is drawn (pink line on Primary Chart above). META's short-term EMAs show that it has been rallying in earnest since this November 4 low. Note the slope of the 8-D EMA and the 21-D EMA. While these are simple indicators, sometimes their simplicity can cause some to miss the power of their message—indicating the short-term trend. The short-term trend remains positive, with price finding support at these EMAs. When price falls below the 21-D EMA, it quickly rises to reclaim it. See Primary Chart.
The Bollinger Bands also reflect the upward rally, which should be deemed corrective until proven otherwise. The Bollinger Bands are widening at the mouth, and when price pushes through the bands to exhaustion levels (set at 2 standard deviations on this daily chart), it falls back but quickly pushes back into the bands. Yes, the CPI could end this prematurely, but technical analysis suggests this stock has further to run before it resumes its longer-term downtrend.
Supplementary Chart C: Bollinger Bands
Similar to the Bollinger Bands, the Donchian Channels also reflect an increase in volatility to the upside. Price is pushing new multi-month highs, which is easily seen using this indicator. As the upper band of the Donchian presses higher with price touching it, that reflects new 21-trading-day highs. But a quick glance at the chart below shows that the highs exceed all highs since late October lows. The October 2022 highs are the ones that will likely be taken out next if the rally continues.
Supplementary Chart D: Donchian Channels
Major support lies at $112, and $115-$116. In addition, the upward TL can easily be used as an invalidation level for any short-term bullish trades. It can also be used as confirmation for any shorts that wish to enter when the bounce exhausts.
Targets are based on the measured-move concept and Fibonacci proportions. Target 1 is $142. That is the 150-day SMA. Target 2 is $149. This level is the measured move area where wave A (or wave W) equals wave C (or wave Y) from the lows. Target 3 is $157-$158. Target 3 is a confluence of levels including (i) the 1.272 extension of first leg of this rally projected from the start of the second leg, (ii) the .618 retracement of META's entire price range going back to the start of data on the chart, and (iii) the 200-day SMA based on today's date, which lies at $158.
The bounce idea is invalidated if price falls below $112-$116. It may also be invalidated (depending on several factors) if price breaks below the pink uptrend line from November 4, 2022 lows.
Lastly, to quickly and effortlessly see the major support (supply zone) for the current corrective rally, see the blue rectangle below. Breaking this level should signal the next leg lower is underway in the primary-degree downtrend.
Supplementary Chart E: Support / Supply Zone
Thanks for reading, and Happy New Year! May your trades and risk-management work out very well this year.
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Author's Comment: Thank you for reviewing this post and considering its charts and analysis. The author welcomes comments, discussion and debate (respectfully presented) in the comment section. Shared charts are especially helpful to support any opposing or alternative view. This article is intended to present an unbiased, technical view of the security or tradable risk asset discussed.
Please note further that this technical-analysis viewpoint is short-term in nature. This is not a trade recommendation but a technical-analysis overview and commentary with levels to watch for the near term. This technical-analysis viewpoint could change at a moment's notice should price move beyond a level of invalidation. Further, proper risk-management techniques are vital to trading success. And countertrend or mean-reversion trading, e.g., trading a rally in a bear market, is lower probability and is tricky and challenging even for the most experienced traders.
DISCLAIMER: This post contains commentary published solely for educational and informational purposes. This post's content (and any content available through links in this post) and its views do not constitute financial advice or an investment or trading recommendation, and they do not account for readers' personal financial circumstances, or their investing or trading objectives, time frame, and risk tolerance. Readers should perform their own due diligence, and consult a qualified financial adviser or other investment / financial professional before entering any trade, investment or other transaction.
META: Intraday KLsMETA 65m: Intraday KLs 182.49, 184.14, 185.14, 188.13; <178.99 upside invalidated; Displaying relative strength// ATR: 5.97, Beta: 1.20., IV: 39.96%//Bias: Neutral-Risk On// Price at time of publish 181.22
META PREDICTION Watch the Video!!
1 Hour time frame shows META in a rising wedge pattern I drew out. Within the wedge is also the Ascending triangle.
You can see where price brakes the Ascending triangle and bounces off 174.19
I believe Meta will likely continue up and reject off the top of the Ascending Triangle - 174.90
If It breaks and continues up I My thoughts are we reject off 175.60 down to the price of 167 then to 152 hopefully for a bounce.
IM TAKING PUTS Waiting for entry at 175. I also will hold my March 10 puts 152.5 till we fill that gap down.
GOOD LUCK
META Gap about to get filled?META GAP about to get filled? Looks like a 10% drop might be in the near future.
NASDAQ:META
META/FB could make a come backWe are seeing a nice rebound in Meta though we have a buy limit inside the yellow support zone which should give a better risk to reward ratio.
META ShortEarning, GAP up into Supply zone
Short Entry 190
Stop 202
Target 155, 120
Risk management is much more important than a good entry point.
I am not a PRO trader.
In my trading plan, the Max Risk of each short term trade should be less than 1% of an account.
Q2 Tech. Sharing a chart of a collection of the larger tech stocks:
META
AAPL
AMZN
NVDA
GOOGL
MSFT
TSLA
AMD
INTC
Broadening wedge, testing the upper bound. Should get interesting.
Meta Possible Run BullishMETA can Reach the POC of the Volume Profile trace form the last Consolitadion. Good momentum so maybe a Good Entry soon. I hope this short Analysis can help to the community.
Any correction, idea or opinion it's well received.
Regards Axu.
$META Bear flag 15m In LiquidtyGave up the 50% retrace on this big pop from a bad ER. Swept liqudity today with a bearflag formation. I'd watch this to the 165's maybe 160's as all these stops get collected up for a possible run to the upside later.
META LongWeekly RSI divergence
Demand Zone created 1/20/2016
Earning 10/26/2022 Gap and run to demand zone.
Entry 96
Stop 86
Target 140
Risk management is much more important than a good entry point.
I am not a PRO trader.
In my trading plan, the Max Risk of each short term trade should be less than 1% of an account.
meta about to break down on this trendforkthis describes the bearish trend angle meta has had recently due to the fundamentals and outstanding availability. if we dont regain an immediate footing on this bear trend and break it were headed for the lower horizontals. even if we return to the middle regression staying over an anchored vwap band price should struggle to stay away from middle regression modularly. looking at frama the contraction shows that a topping out proccess is engaging.
Meta 3WK AnalysisMeta just re-tested strong support resistance and trendline. Price may move down to previous support.
Facebook - Bearish SentimentMeta Platforms is showing heavy bearish signs. Price hit my 178.00 block. It is now testing the 174.14 zone ( a 5min zone). We have EQUAL LOWS around that region which have to be taken out. Once price breaks those lows, it will be headed for the 170.00 Pontential Bearish BOS. That's where price will break structure and fall further.
We remain BEARISH!!!!!!!
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Patience pays!!!
$META price update - price is fighting between two gap areas$META price update
Looking for $META to bounce with $SPY and retest $176.42, then $178 PL.
However if it loses $172.88 we'll likely retest $169.71
Potential head and shouldersThis is a weekly chart. Looking for a potential head and shoulders pattern. The yellow lines is a mirror image of the rally leading to the head.
FB - Correction should still look for higher pricesIn my primary count, Meta has finished the first leg of black wave 4 correction.
I expect a pullback to the downside before another leg up, targeting strong 220 resistance, which is also the 50% retracement from waves 2-3.
META, weeklyThe stock of Meta soared 23% last week to a 6-month high, its third-best week ever. In its earnings report Wednesday, revenue came in slightly above expectations, despite sales down year over year, and the first-quarter forecast was roughly in line with expectations.
The key to the rally was CEO Mark Zuckerberg's announcement in the earnings statement that 2023 would be the "Year of Efficiency" and his promise that "we're focused on becoming stronger and more nimble." Although the quarter was OK, it was the cost-cutting that finally got investors interested, which is why Meta took off.
The earnings call comes 3 months after Meta announced 11,000 job cuts, which represents 13% of its workforce.
Zuckerberg said he does not expect declines to continue, but acknowledges the business will not return to how it was before. Assuming he’s right, the massive sell-off last year was an overcorrecting overcorrection down to 88.91 USD, and investors may well be slipping back into Meta right now. If that’s true, the optimism will likely hold for the coming quarter.
