Meta has seen a strong recovery recently, but barely retested February highs around 740, from where we can see some nice pullback, but it appears corrective, since it’s unfolding in three waves, and forming a potential bull flag — likely wave 4. A breakout above the downward channel on a daily close could signal the start of wave 5 and a push to new highs.
However, keep a close eye on the 666.1; a break below this level would invalidate the bullish view and suggest a deeper consolidation phase may follow.
Highlights:
Direction: Up (pending breakout)
Structure: Wave 4 bull flag; wave 5 possible soon
Support: 680 / 690
However, keep a close eye on the 666.1; a break below this level would invalidate the bullish view and suggest a deeper consolidation phase may follow.
Highlights:
Direction: Up (pending breakout)
Structure: Wave 4 bull flag; wave 5 possible soon
Support: 680 / 690
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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.