META stock price fell more than -10.56% Thursday closing at $441.38

The META stock price fell by -10.56% on the last day (Thursday, 25th Apr 2024) from $493.50 to $441.38. During the last trading day the stock fluctuated 7.54% from a day low at $414.50 to a day high of $445.77. The price has fallen in 7 of the last 10 days and is down by -15.63% for this period. Volume has increased on the last day by 55 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 82 million shares were bought and sold for approximately $36.27 billion.

On Apr 25, 2024, it was reported that Deutsche Bank gave META a "Buy" grade with a "hold" action.

Given the current short-term trend, the stock is expected to rise 14.57% during the next 3 months and, with a 90% probability hold a price between $505.68 and $622.02 at the end of this 3-month period.

There are few to no technical positive signals at the moment. The META stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $484.25 and $499.48. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -16.30%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

On the downside, the stock finds support just below today's level from accumulated volume at $400.06 and $394.78.There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, META finds support just below today's level at $400.06. If this is broken, then the next support from accumulated volume will be at $394.78 and $390.14.

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 $31.27 between high and low, or 7.54%. For the last week, the stock has had daily average volatility of 4.88%.

META is oversold on RSI14 (20). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

The META stock holds several negative signals and despite the positive trend, we believe META will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.