Welcome back to Apple Tree 360! In this edition of our MAG7 Magnificent Seven Stock Series, weโre diving into Meta (META) to break down what the charts are telling us โ both daily and weekly. Whether you’re a short-term trader or a long-term investor, understanding the key price zones is crucial right now.
๐ META Stock: Where We Stand
Meta has seen a massive correction โ from $740 to $480, marking nearly a 35%+ pullback from the highs. So, is the worst over, or is this just the beginning of a bigger downtrend?
Letโs find out.
๐ต๏ธ Daily Chart Breakdown: All Eyes on $480 and $482
Weโre currently hovering around a critical support zone โ $480โ$482. If these levels break, momentum could shift sharply to the downside.
Key Observations:
- Consolidation continues near major support.
- No real trend breakout just yet โ Meta is in a wait-and-see zone.
- Bearish momentum hasnโt fully taken over, but the chart shows a lack of bullish conviction.
โ ๏ธ Short-term traders should be cautious.
๐ Weekly Chart Outlook: Long-Term Setup Taking Shape?
On the weekly chart, things look a little more promising โ if youโre a long-term investor. Meta is sitting near a support zone of $460โ$480, a historically reactive level from earlier in 2024.
If META closes above $590, it could spark bullish momentum, setting the stage for potential upside in the coming weeks.
Until that happens, there is no clear trend โ and the stock may continue chopping sideways or even drift lower.
๐ฏ Key Levels to Watch
- $480โ$482: Major support โ if it breaks, expect potential momentum shift downward.
- $590: Break above this = possible bullish reversal and swing opportunity
โ Action Items
- ๐ก Wait for a break above $590 to consider bullish trades.
- ๐ด Watch $480โ$482 closely โ if these levels fail, momentum could shift quickly.
- ๐บ Stay tuned to Apple Tree 360 on YouTube for live chart updates and analysis.
๐ก Final Thoughts
Meta’s stock is in a no-manโs land โ neither clearly bullish nor decisively bearish(can see quick bullish pullback/reversal). For now, wait-and-watch mode is best, especially for swing traders going long. For long-term investors, this 35% correction might just be setting up the next big buying opportunityโฆ but only if the charts confirm strength.
๐ Patience is the real alpha in times like this.
๐ Follow us for more updates:
- ๐ฅ YouTube Channel https://www.youtube.com/@ApplTree360-s6j3t
- ๐ฐ Read more at AppleTree360.com
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