A very clear sell signal in META. Can fall 25-40% in 3-6 months.
The share has increased fivefold in the past two years, but now the technical picture for the share signals that a major downward correction (25-40%) may come for the share in the next 3-6 months.
Technical Analysis of Meta Platforms Inc. (ticker on Nasdaq: META)
In the last week now in the weekly chart, the meta share has triggered a technical sell signal from a marked Bearish Engulfing in the Candlestick weekly chart.
There has also been a break down through the lower trend line some time ago in the steeply rising trend that started in autumn 2022.
The share has increased fivefold in just under two years, and now the peak may have been reached, at least for a while and as the technical picture now signals for the share.
Various momentum indicators such as MACD, Stochastics and RSI (on a weekly basis) all signal that the share is now probably facing a major downward correction in the next 3-6 months.
First important technical support level will be around USD 380.00 and then next important technical support level is around USD 300.00.
The stock ended Friday at around USD 499.00.
It could thus be headed for a major and strong downward correction for the Meta share during the next 3-6 months, and then preferably down to between USD 300.00 - 380.00.
Such bearish engulfing sales signals, and as we see here and in the weekly chart, which now for the Meta share give a fairly clear signal that a major correction is on the way.
So no one should be very surprised if the META-stock undergoes a sharp correction from today's USD 499.00 down to around USD 300.00 - 380.00 in the next 3-6 months.
It could therefore move towards a correction of between 25-40% in the next 3-6 months.
Please don't shoot the messenger.
This is just what the weekly charts now say about what we can expect from price development for the META share over the next 3-6 months.
Technical Analysis of Meta Platforms Inc. (ticker on Nasdaq: META)
In the last week now in the weekly chart, the meta share has triggered a technical sell signal from a marked Bearish Engulfing in the Candlestick weekly chart.
There has also been a break down through the lower trend line some time ago in the steeply rising trend that started in autumn 2022.
The share has increased fivefold in just under two years, and now the peak may have been reached, at least for a while and as the technical picture now signals for the share.
Various momentum indicators such as MACD, Stochastics and RSI (on a weekly basis) all signal that the share is now probably facing a major downward correction in the next 3-6 months.
First important technical support level will be around USD 380.00 and then next important technical support level is around USD 300.00.
The stock ended Friday at around USD 499.00.
It could thus be headed for a major and strong downward correction for the Meta share during the next 3-6 months, and then preferably down to between USD 300.00 - 380.00.
Such bearish engulfing sales signals, and as we see here and in the weekly chart, which now for the Meta share give a fairly clear signal that a major correction is on the way.
So no one should be very surprised if the META-stock undergoes a sharp correction from today's USD 499.00 down to around USD 300.00 - 380.00 in the next 3-6 months.
It could therefore move towards a correction of between 25-40% in the next 3-6 months.
Please don't shoot the messenger.
This is just what the weekly charts now say about what we can expect from price development for the META share over the next 3-6 months.
You are welcome to visit StockCharts365.com and read more technical analyzes there about shares in the US, shares in the Nordics, important stock market indices, currencies, cryptocurrencies and commodities.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.