| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY STOP |
| Entry Point | 323.00 |
| Take Profit | 346.00 |
| Stop Loss | 315.00 |
| Key Levels | 275.00, 290.00, 300.00, 310.00, 345.00, 350.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 300.00 |
| Take Profit | 275.00 |
| Stop Loss | 310.00 |
| Key Levels | 275.00, 290.00, 300.00, 310.00, 345.00, 350.00 |
Shares of Meta Platforms Inc., the US multinational holding company that owns technology conglomerate and social media giant Facebook, are correcting at 310.00.
On the daily chart, an uptrend is being built, within which the price is moving towards the resistance line of the global channel with dynamic boundaries of 345.00–290.00.
On the four-hour chart, the prospects for the continuation of the ascending dynamics of the instrument increased after the price gap of 310.00–300.00 formed. Now the quotes have reached the upper limit of the range, and after overcoming it, they will probably continue to grow with the target of 350.00, the high of December 12, 2021, which has already been repeatedly tested by the price, but has not been overcome.
Technical indicators maintain a steady buy signal: fast EMAs on the Alligator indicator are moving away from the signal line, and the AO histogram is forming new ascending bars, rising in the buying zone.
Trading tips
Long positions should be opened after the price consolidates above 323.00 with the target at 346.00. Stop-loss — 315.00. Implementation time: 7 days and more.
Short positions can be opened after a continued decline in the asset, as well as price consolidation below the support level of 300.00 with the target of 275.00
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