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The Meta stock price gained 0.89% on the last trading day (Wednesday, 26th Apr 2023), rising from $207.55 to $209.40. During the last trading day the stock fluctuated 2.49% from a day low at $208.90 to a day high of $214.11. The price has fallen in 7 of the last 10 days and is down by -2.15% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 15 million more shares were traded than the day before. In total, 32 million shares were bought and sold for approximately $6.79 billion.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $204.97 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift.Given the current short-term trend, the stock is expected to rise 34.56% during the next 3 months and, with a 90% probability hold a price between $275.80 and $308.43 at the end of this 3-month period.
The Meta stock holds a sell signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $212.76. On a fall, the stock will find some support from the long-term average at approximately $205.89. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, April 14, 2023, and so far it has fallen -5.46%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Meta finds support from accumulated volume at $204.93 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $5.21 (2.49%) between high and low. For the last week, the stock has had daily average volatility of 1.94%.
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Meta stock to perform well in the short-term.
Check full META forecast and analysis here.