META stock upgraded from Buy Candidate to Strong Buy Candidate after Thursday trading session.

The META stock price gained 0.82% on the last trading day (Thursday, 4th Apr 2024), rising from $506.74 to $510.92. It has now gained 4 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 3.80% from a day low at $510.58 to a day high of $530.00. The price has risen in 6 of the last 10 days and is up by 1.07% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 14 million more shares were traded than the day before. In total, 26 million shares were bought and sold for approximately $13.27 billion.

On Apr 04, 2024, it was reported that Jefferies gave META a "Buy" grade with a "hold" action.

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 39.81% during the next 3 months and, with a 90% probability hold a price between $693.57 and $785.80 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 $497.39 and $492.69. A breakdown below any of these levels will issue sell signals. 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 Thursday, March 07, 2024, and so far it has fallen -0.248%. 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).

On the downside, the stock finds support just below today's level from accumulated volume at $484.03 and $474.99.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 $484.03. If this is broken, then the next support from accumulated volume will be at $474.99 and $459.41.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $19.42 between high and low, or 3.80%. For the last week the stock has had daily average volatility of 2.60%.

META holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.