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Meta Platforms, Inc. stock price up more than 17.59% on Thursday, 1 month ago

Meta Platforms, Inc.

The Meta Platforms, Inc. stock price gained 17.59% on the last trading day (Thursday, 28th Apr 2022), rising from $174.95 to $205.73. During the day the stock fluctuated 8.10% from a day low at $192.90 to a day high of $208.53. The price has fallen in 6 of the last 10 days and is down by -4.28% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 30 million more shares were traded than the day before. In total, 102 million shares were bought and sold for approximately $20.97 billion.

The last rating was given by Truist Securities on Apr 28, 2022. The price target was set to 205.73+17.59.Over the last 90 days, this security got 11 buy, 29 sell, and 2 hold ratings.

The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled.Given the current short-term trend, the stock is expected to fall -12.82% during the next 3 months and, with a 90% probability hold a price between $151.93 and $246.53 at the end of this 3-month period.

Meta Platforms, Inc.

A buy signal was issued from a pivot bottom point on Wednesday, April 27, 2022, and so far it has risen 17.59%. Further rise is indicated until a new top pivot has been found. 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. The Meta Platforms, Inc. stock holds a buy signal from the short-term moving average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term moving average at $209.72. On a fall, the stock will find some support from the short-term average at $188.75. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Meta Platforms, Inc. finds support from accumulated volume at $198.45 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $15.63 between high and low, or 8.10%. For the last week, the stock has had a daily average volatility of 6.65%.

Meta Platforms, Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Hold/Accumulate candidate.

Check full Meta Platforms, Inc. forecast and analysis here.