META Stock Forecast
Evaluation of META stock downgraded after the last trading session.
(Updated on Jul 02, 2024)
The stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $520.02 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect META stock with a 90% probability to be traded between $445.01 and $529.78 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.
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META Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Thursday, June 27, 2024, and so far it has fallen -1.94%. 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). 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 $508.66 and $489.33. A breakdown below any of these levels will issue sell signals. 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.
Support, Risk & Stop-loss for META stock
META finds support from accumulated volume at $493.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $11.05 (2.21%) between high and low. For the last week, the stock has had daily average volatility of 2.41%.
Our recommended stop-loss: $487.23 (-4.37%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 43 days ago.)
Trading Expectations (META) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Meta Platforms, Inc. (Formerly Facebook / FB) to open at $506.48, and during the day (based on 14 day Average True Range), to move between $497.79 and $521.21, which gives a possible trading interval of +/-$11.71 (+/-2.30%) up or down from last closing price. If Meta Platforms, Inc. (Formerly Facebook / FB) takes out the full calculated possible swing range there will be an estimated 4.60% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $510.92 (0.28%) than the support at $493.50 (3.14%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Meta Platforms, Inc. (Formerly Facebook / FB) stock A Buy?
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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.497 Hold/Accumulate Downgraded
Predicted Opening Price for Meta Platforms, Inc. (Formerly Facebook / FB) of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $506.48 ( 0.592%) | $509.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for META
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 517.53 | 1.58% |
| R2 | 513.31 | 0.748% |
| R1 | 510.70 | 0.236% |
| Price | 509.50 | |
| S1 | 502.26 | -1.42% |
| S2 | 499.65 | -1.93% |
| S3 | 495.43 | -2.76% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 527.34 | 3.50% |
| R2 | 519.25 | 1.91% |
| R1 | 510.92 | 0.279% |
| Price | 509.50 | |
| S1 | 493.50 | -3.14% |
| S2 | 443.29 | -13.00% |
| S3 | 441.38 | -13.37% |
META Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 30, 2024 | Jun 14, 2024 | Jun 26, 2024 | $0.500 | 0.0974% |
| 2 | Feb 01, 2024 | Feb 21, 2024 | Mar 26, 2024 | $0.500 | 0.101% |
FAQ
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