Meta Platforms Inc.: technical analysis 02.06.2023
Good afternoon, dear forum visitors!
NPBFX offers the latest release of analytics on Meta Platforms Inc. for a better understanding of the current market situation and more efficient trading.
Shares of Meta Platforms Inc., the US multinational holding company that owns technology conglomerate and social media giant Facebook, are trading at 272.00.
A correction trend is forming on the daily chart, within which the price is heading toward the channel resistance line with dynamic boundaries of 300.00–245.00.
On the four-hour chart, the prospects for a continuation of the upward momentum have noticeably increased after the quotes consolidated above the 100.0% underlying trend level of the Fibonacci extension of 268.00. The next upside target is the 161.8% full trend level of the Fibonacci extension at 292.00.
Technical indicators keep a buy signal: fast EMAs on the Alligator indicator are moving away from the signal line, and the AO histogram is forming rising bars, rising in the buying zone.
Trading tips
Long positions may be opened after the price rises and consolidates above 278.00 with the target at 292.00. Stop loss – 270.00. Implementation period: 7 days or more.
Short positions may be opened after a reversal, reduction, and consolidation of the price below 268.00 with the target at 253.50. Stop loss – 275.00.
Use more opportunities of the NPBFX analytical portal: analytics
You can find more actual analytical reviews on other popular currency pairs, metals and CFDs on the NPBFX online portal. Daily analytics with charts, current market prognoses and trading scenarios in the Feed section are available. Get free and unlimited access to the online portal after registering on the official website of NPBFX Company.
If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist.
Use the current recommendations of analysts on Meta Platforms Inc. and trade efficiently with NPBFX.
Good afternoon, dear forum visitors!
NPBFX offers the latest release of analytics on Meta Platforms Inc. for a better understanding of the current market situation and more efficient trading.
Shares of Meta Platforms Inc., the US multinational holding company that owns technology conglomerate and social media giant Facebook, are trading at 272.00.
A correction trend is forming on the daily chart, within which the price is heading toward the channel resistance line with dynamic boundaries of 300.00–245.00.
On the four-hour chart, the prospects for a continuation of the upward momentum have noticeably increased after the quotes consolidated above the 100.0% underlying trend level of the Fibonacci extension of 268.00. The next upside target is the 161.8% full trend level of the Fibonacci extension at 292.00.
Technical indicators keep a buy signal: fast EMAs on the Alligator indicator are moving away from the signal line, and the AO histogram is forming rising bars, rising in the buying zone.
Trading tips
Long positions may be opened after the price rises and consolidates above 278.00 with the target at 292.00. Stop loss – 270.00. Implementation period: 7 days or more.
Short positions may be opened after a reversal, reduction, and consolidation of the price below 268.00 with the target at 253.50. Stop loss – 275.00.
Use more opportunities of the NPBFX analytical portal: analytics
You can find more actual analytical reviews on other popular currency pairs, metals and CFDs on the NPBFX online portal. Daily analytics with charts, current market prognoses and trading scenarios in the Feed section are available. Get free and unlimited access to the online portal after registering on the official website of NPBFX Company.
If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist.
Use the current recommendations of analysts on Meta Platforms Inc. and trade efficiently with NPBFX.