Will Meta Platforms Retest Lows?
Meta Platforms has been under heavy selling pressure all year. Now some traders may look for the social-media giant to retest its lows.
The first pattern on today’s chart is the 50-day simple moving average (SMA). META has remained mostly below this line since 2022 began. That could make trend followers expect prices to continue lower after its most recent test on Monday.
Second, consider the bearish gap on October 27 after earnings missed estimates. Notice how the stock attempted to rebound without filling the entire gap. Also notice how it made a slightly lower high last week relative to December 5.
Third, short-term direction could soon line up with the longer-term downtrend. MACD is nearing a potential bearish crossover. Prices also closed below the 8-day exponential moving average (EMA) and 21-day EMA. If this continues and the fast EMA slips below the slower EMA, it could make some traders expect more follow-through.
TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
Important Information
TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. You Can Trade, Inc. is also a wholly owned subsidiary of TradeStation Group, Inc., operating under its own brand and trademarks. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a Member of NFA. When applying for, or purchasing, accounts, subscriptions, products, and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means.
This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates.
Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: https://www.tradestation.com/important-information.
The first pattern on today’s chart is the 50-day simple moving average (SMA). META has remained mostly below this line since 2022 began. That could make trend followers expect prices to continue lower after its most recent test on Monday.
Second, consider the bearish gap on October 27 after earnings missed estimates. Notice how the stock attempted to rebound without filling the entire gap. Also notice how it made a slightly lower high last week relative to December 5.
Third, short-term direction could soon line up with the longer-term downtrend. MACD is nearing a potential bearish crossover. Prices also closed below the 8-day exponential moving average (EMA) and 21-day EMA. If this continues and the fast EMA slips below the slower EMA, it could make some traders expect more follow-through.
TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
Important Information
TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. You Can Trade, Inc. is also a wholly owned subsidiary of TradeStation Group, Inc., operating under its own brand and trademarks. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a Member of NFA. When applying for, or purchasing, accounts, subscriptions, products, and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means.
This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates.
Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: https://www.tradestation.com/important-information.
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