META: Eyeing a Breakout — GEX Supports Upside Momentum 🚀
Technical Overview META has been showing consistent bullish recovery off the $691–$707 demand zone, climbing back into its rising channel. Price is now approaching a critical resistance cluster between $784–$790, where prior rejection and current GEX resistance converge.
GEX Insights Options GEX shows the highest positive NETGEX at $790 — also aligning with the 2nd CALL Wall (91.31%). This means option dealers are heavily short calls at this level, creating a potential gamma squeeze scenario if price breaks and holds above it. Additional CALL interest extends toward $800–$820, suggesting upside expansion if momentum follows through. On the downside, GEX Put Support sits near $698–$707, reinforcing the major swing low zone as strong support.
1H Price Action Structure
* Strong bounce from channel midline support.
* Higher lows and higher highs forming, signaling bullish continuation.
* Resistance test ahead at $784–$790; breakout here may trigger stop runs and call delta hedging.
15M Short-Term View
* META is coiling under resistance with minor intraday pullbacks.
* Watching for breakout above $784 for aggressive scalps toward $790+.
* Failure here could trigger a retest of $770–$775 short-term support.
Options Trade Suggestion Based on GEX
* Bullish Play: Consider call spreads targeting $790–$800 if price clears and holds above $784 with volume.
* Risk Zone: If price fails to hold $770, momentum weakens and $750 becomes the next key support.
* Bearish Hedge: Put spreads only if rejection at $784–$790 is confirmed with breakdown through $770.
My Thoughts GEX positioning clearly favors upside into $790 as long as $770 support holds. If META triggers the gamma breakout, the move could accelerate toward $800 quickly. Keep in mind that $790 is both a magnet and a ceiling — watch the breakout volume closely.
Directional Bias: Bullish leaning — favor long setups above $784.
Disclaimer: This analysis is for educational purposes only. Always do your own research and manage risk before trading.
Technical Overview META has been showing consistent bullish recovery off the $691–$707 demand zone, climbing back into its rising channel. Price is now approaching a critical resistance cluster between $784–$790, where prior rejection and current GEX resistance converge.
GEX Insights Options GEX shows the highest positive NETGEX at $790 — also aligning with the 2nd CALL Wall (91.31%). This means option dealers are heavily short calls at this level, creating a potential gamma squeeze scenario if price breaks and holds above it. Additional CALL interest extends toward $800–$820, suggesting upside expansion if momentum follows through. On the downside, GEX Put Support sits near $698–$707, reinforcing the major swing low zone as strong support.
1H Price Action Structure
* Strong bounce from channel midline support.
* Higher lows and higher highs forming, signaling bullish continuation.
* Resistance test ahead at $784–$790; breakout here may trigger stop runs and call delta hedging.
15M Short-Term View
* META is coiling under resistance with minor intraday pullbacks.
* Watching for breakout above $784 for aggressive scalps toward $790+.
* Failure here could trigger a retest of $770–$775 short-term support.
Options Trade Suggestion Based on GEX
* Bullish Play: Consider call spreads targeting $790–$800 if price clears and holds above $784 with volume.
* Risk Zone: If price fails to hold $770, momentum weakens and $750 becomes the next key support.
* Bearish Hedge: Put spreads only if rejection at $784–$790 is confirmed with breakdown through $770.
My Thoughts GEX positioning clearly favors upside into $790 as long as $770 support holds. If META triggers the gamma breakout, the move could accelerate toward $800 quickly. Keep in mind that $790 is both a magnet and a ceiling — watch the breakout volume closely.
Directional Bias: Bullish leaning — favor long setups above $784.
Disclaimer: This analysis is for educational purposes only. Always do your own research and manage risk before trading.
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.