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.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.