Meta (META) has been climbing within a rising wedge channel since April, recently stalling below $730. A potential short-term pullback is forming, which may offer a healthy reset for momentum indicators.
Price Action:
After tagging the top of the rising wedge, META is showing signs of weakness with a bearish candle and declining volume. Price closed at $715.81 (-1.58%), sitting just above a key support zone.
Support & Resistance:
Resistance: $726 (BB top), $740 (horizontal supply), $772.91 (upper BB 53 band)
Support: $714 (minor), $682–683 (strong horizontal + prior resistance turned support), $637 (EMA 100)
Indicators:
MACD: Still bullish but flattening, signaling slowing momentum.
RSI: 62.21 – cooling from overbought territory.
Volume: Lower on recent candles, suggesting reduced buyer strength.
Key Insight:
A pullback toward the $680 support zone would be healthy and could allow the RSI, MACD, and volume to reset from overextended levels. This would prepare META for a stronger continuation if demand steps back in.
Outlook:
META remains in a bullish structure, but short-term cooling is likely. A bounce from $682 or a breakout above $740 (with volume confirmation) could mark the next directional move. Keep an eye on the earnings date (July 28) for volatility.
Price Action:
After tagging the top of the rising wedge, META is showing signs of weakness with a bearish candle and declining volume. Price closed at $715.81 (-1.58%), sitting just above a key support zone.
Support & Resistance:
Resistance: $726 (BB top), $740 (horizontal supply), $772.91 (upper BB 53 band)
Support: $714 (minor), $682–683 (strong horizontal + prior resistance turned support), $637 (EMA 100)
Indicators:
MACD: Still bullish but flattening, signaling slowing momentum.
RSI: 62.21 – cooling from overbought territory.
Volume: Lower on recent candles, suggesting reduced buyer strength.
Key Insight:
A pullback toward the $680 support zone would be healthy and could allow the RSI, MACD, and volume to reset from overextended levels. This would prepare META for a stronger continuation if demand steps back in.
Outlook:
META remains in a bullish structure, but short-term cooling is likely. A bounce from $682 or a breakout above $740 (with volume confirmation) could mark the next directional move. Keep an eye on the earnings date (July 28) for volatility.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.