Given that the stock is near the upper trendline and within Wave V, there could be limited upside left in the current cycle.
A few possibilities:
1. Continuation to Upper Resistance: META could continue pushing higher, potentially towards the $676 range (upper channel boundary), but likely face strong resistance.
2. Correction After Wave V: Once Wave V completes, a corrective phase (possibly Wave A) could begin. The correction might test lower Fibonacci levels around 380 USD or even lower, depending on market conditions.
3. Long-term bullish trend: Even if a correction occurs, as long as the price remains within the channel and above the support trendline, the long-term uptrend remains intact.
In short, a potential small upside to complete Wave V is possible, followed by a corrective phase.
Keep an eye on how the price behaves near key Fibonacci resistance levels.
A few possibilities:
1. Continuation to Upper Resistance: META could continue pushing higher, potentially towards the $676 range (upper channel boundary), but likely face strong resistance.
2. Correction After Wave V: Once Wave V completes, a corrective phase (possibly Wave A) could begin. The correction might test lower Fibonacci levels around 380 USD or even lower, depending on market conditions.
3. Long-term bullish trend: Even if a correction occurs, as long as the price remains within the channel and above the support trendline, the long-term uptrend remains intact.
In short, a potential small upside to complete Wave V is possible, followed by a corrective phase.
Keep an eye on how the price behaves near key Fibonacci resistance levels.
In technical analysis, several methods focus on higher timeframes to provide a broader, more reliable context for trading or investment decisions. Elliott Wave Principle generally considers historical higher timeframes as mandatory.
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.
In technical analysis, several methods focus on higher timeframes to provide a broader, more reliable context for trading or investment decisions. Elliott Wave Principle generally considers historical higher timeframes as mandatory.
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.