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META stock price ended at $451.96 on Friday, after gaining 2.33%.

StockInvest.us, 1 month ago

META

The META stock price gained 2.33% on the last trading day (Friday, 3rd May 2024), rising from $441.68 to $451.96. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.29% from a day low at $444.00 to a day high of $454.16. The price has risen in 6 of the last 10 days but is still down by -6.05% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 16 million shares were bought and sold for approximately $7.36 billion.

On May 01, 2024, it was reported that Loop Capital Markets gave META a "Buy" grade with a "hold" action.

The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect META stock with a 90% probability to be traded between $430.71 and $528.17 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.

META

A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 5.07%. 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 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 $489.48. On a fall, the stock will find some support from the short-term average at $440.04. 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 finds support from accumulated volume at $443.29 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 $10.16 between high and low, or 2.29%. For the last week, the stock has had daily average volatility of 3.05%.

META holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Check full META forecast and analysis here.