Meta stock price ended on $240.32 on Friday after gaining 0.738%

The Meta stock price gained 0.738% on the last trading day (Friday, 28th Apr 2023), rising from $238.56 to $240.32. 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 1.98% from a day low at $235.76 to a day high of $240.43. The price has fallen in 7 of the last 10 days but is still up by 8.5% over the past 2 weeks. Volume fell on the last day by -32 million shares and in total, 38 million shares were bought and sold for approximately $9.18 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled.Given the current short-term trend, the stock is expected to rise 33.28% during the next 3 months and, with a 90% probability hold a price between $283.08 and $329.77 at the end of this 3-month period.

The Meta stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $219.23 and $209.09. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, February 27, 2023, and so far it has risen 41.75%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Meta finds support from accumulated volume at $238.56 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $4.67 between high and low, or 1.98%. For the last week, the stock has had daily average volatility of 2.01%.

Meta 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.