🔍 Technical Analysis (TA) – Intraday Outlook
Current Price Zone: ~$605
* META is sitting just above a key demand zone (595-585).
* It has pulled back from recent highs near 633, failing to hold the upper breakout.
* We saw a Break of Structure (BOS) followed by a lower high, suggesting weakness.
* A bullish CHoCH occurred prior, but it needs to defend current levels to remain valid.
Indicators:
* MACD: Bearish crossover, momentum fading. Needs confirmation for reversal.
* Stoch RSI: Oversold, which may suggest a short-term bounce or relief rally if price respects 595 support.
Key Support Zones:
* 595 → Key support, aligns with GEX Negative Wall (highest negative NetGEX zone).
* 590 → 2nd PUT Wall.
* 585 → 3rd PUT Wall and ultimate line before major structure breaks.
Key Resistance Zones:
* 620 → 2nd CALL Wall.
* 633-640 → Strong call resistance. Rejected earlier here.
* 650 → 3rd CALL Wall, extreme resistance unless there’s a breakout event.
🧠 GEX & Options Flow Analysis (via TanukiTrade [PRO])
* GEX Sentiment: 🔵🔵🟢 (Mildly Bullish/Balanced)
* IV Rank (IVR): 33.8 – Slightly elevated, but not extreme.
* IVx Avg: 39.9 – Options pricing reflects a moderate volatility environment.
* Call$%: 11.6% → This shows PUTS are dominating the flow, which often supports the underlying.
* Highest Negative NetGEX: At 595, giving strong put-based dealer support.
* CALL Resistance: 620 → 640 → 650.
* PUT Walls: 595 → 590 → 585.
📌 This 595 area is heavily defended by dealers and acts as a gamma magnet zone, especially for mean reversion trades. It may also act as a base for bounce plays.
🔧 Trade Setups
📈 Bullish Scenario:
If META holds above 595 and breaks back above 610 with volume:
* Entry: Above 610 confirmation.
* Target 1: 620
* Target 2: 633 (previous high)
* Stop-Loss: Below 595
* Options Strategy:
* Buy Apr 12 $620 Calls on confirmation above 610.
* Alternatively, sell $590 Puts if confident in support holding.
📉 Bearish Scenario:
If META loses 595 with high volume and no bounce:
* Entry: On breakdown of 595.
* Target 1: 590
* Target 2: 585
* Target 3: 574 (range lows)
* Stop-Loss: Above 605
* Options Strategy:
* Buy Apr 12 $590 Puts
* Or try a Put Debit Spread (595/585) for limited risk.
🧭 Bias & Final Thoughts:
* Short-term Intraday Bias: NEUTRAL → LEANING BEARISH unless 610 is reclaimed.
* GEX Bias: SUPPORTIVE under 595, but capped above 633.
* Watch for reaction at 595 – it’s the key battleground today.
📛 Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always do your own research and trade responsibly.
Current Price Zone: ~$605
* META is sitting just above a key demand zone (595-585).
* It has pulled back from recent highs near 633, failing to hold the upper breakout.
* We saw a Break of Structure (BOS) followed by a lower high, suggesting weakness.
* A bullish CHoCH occurred prior, but it needs to defend current levels to remain valid.
Indicators:
* MACD: Bearish crossover, momentum fading. Needs confirmation for reversal.
* Stoch RSI: Oversold, which may suggest a short-term bounce or relief rally if price respects 595 support.
Key Support Zones:
* 595 → Key support, aligns with GEX Negative Wall (highest negative NetGEX zone).
* 590 → 2nd PUT Wall.
* 585 → 3rd PUT Wall and ultimate line before major structure breaks.
Key Resistance Zones:
* 620 → 2nd CALL Wall.
* 633-640 → Strong call resistance. Rejected earlier here.
* 650 → 3rd CALL Wall, extreme resistance unless there’s a breakout event.
🧠 GEX & Options Flow Analysis (via TanukiTrade [PRO])
* GEX Sentiment: 🔵🔵🟢 (Mildly Bullish/Balanced)
* IV Rank (IVR): 33.8 – Slightly elevated, but not extreme.
* IVx Avg: 39.9 – Options pricing reflects a moderate volatility environment.
* Call$%: 11.6% → This shows PUTS are dominating the flow, which often supports the underlying.
* Highest Negative NetGEX: At 595, giving strong put-based dealer support.
* CALL Resistance: 620 → 640 → 650.
* PUT Walls: 595 → 590 → 585.
📌 This 595 area is heavily defended by dealers and acts as a gamma magnet zone, especially for mean reversion trades. It may also act as a base for bounce plays.
🔧 Trade Setups
📈 Bullish Scenario:
If META holds above 595 and breaks back above 610 with volume:
* Entry: Above 610 confirmation.
* Target 1: 620
* Target 2: 633 (previous high)
* Stop-Loss: Below 595
* Options Strategy:
* Buy Apr 12 $620 Calls on confirmation above 610.
* Alternatively, sell $590 Puts if confident in support holding.
📉 Bearish Scenario:
If META loses 595 with high volume and no bounce:
* Entry: On breakdown of 595.
* Target 1: 590
* Target 2: 585
* Target 3: 574 (range lows)
* Stop-Loss: Above 605
* Options Strategy:
* Buy Apr 12 $590 Puts
* Or try a Put Debit Spread (595/585) for limited risk.
🧭 Bias & Final Thoughts:
* Short-term Intraday Bias: NEUTRAL → LEANING BEARISH unless 610 is reclaimed.
* GEX Bias: SUPPORTIVE under 595, but capped above 633.
* Watch for reaction at 595 – it’s the key battleground today.
📛 Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always do your own research and trade responsibly.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.