META: downtrend continuation or reversal?

META is down almost 60% in the last year and it looks like there are two possible outcomes from here.

Bullish scenario:

The current pattern is generally bullish and typically anticipates a significant trend reversal.
The Sentiment Index indicator shows a weakening in the Bearish Sentiment which could indicate that a more bullish sentiment could come next.

Bearish scenario:

The price is currently pushed down by two major resistances and any bull attempt must be able to break up both.
A breakdown of the Bearish Sentiment trendline (blue trendline at the bottom) would indicate a strong trend continuation to the downside.

Given the overall market condition, it is likely that META will move according to the macro-environment, however, the two scenarios above outline what to look for.

Remember to do your analysis, be patient and always look for confirmation from the indicators.

a.b

🔻🔻🔻🔻🔻🔻🔻🔻🔻🔻🔻🔻🔻🔻🔻🔻🔻🔻🔻

📈 Trading Indicators
💚 1-Week FREE Trial: minimalisttrading.com
❤️ Trading videos: bit.ly/MT-Channel

🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺

Anche su:

Pubblicazioni correlate

Major downtrend in SPX

di a.b

Declinazione di responsabilità

Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.

a.b

Anche su:

Pubblicazioni correlate

Major downtrend in SPX

di a.b