META Platforms may have turned neutral on the 1D timeframe (RSI = 53.558, MACD = 15.800, ADX = 23.681) but remain extremely overbought on the 1W (RSI = 76.808). The stock hit the HH trendline that dates back to January 2018, while the 1W MACD is about to form a Bearish Cross. During these six years, the stock has had five standard corrections (excluding the 2022 Bear Cycle) between -15.90% and -44.00%.
The minimum one was the most recent in August 2023. We expect at least such a -15.90% correction before buyers start accumulating again above the 1W MA50, so our sell target is placed accordingly (TP = 440.00).
See how our prior idea has worked out:
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The minimum one was the most recent in August 2023. We expect at least such a -15.90% correction before buyers start accumulating again above the 1W MA50, so our sell target is placed accordingly (TP = 440.00).
See how our prior idea has worked out:
## If you like our free content follow our profile to get more daily ideas. ##
## Comments and likes are greatly appreciated. ##
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I trade Crypto, Forex, Indices & Commodities all from one account on PrimeXBT with TradingView charts
Register here👉 investingscope.s.gy/PrimeXBT
Contact me for Account Management (+15% monthly profit)
Telegram👉 t.me/investingscope
Register here👉 investingscope.s.gy/PrimeXBT
Contact me for Account Management (+15% monthly profit)
Telegram👉 t.me/investingscope
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.