Meta Stock Forecast

META Signals & Forecast

The Meta stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $333.94. On a fall, the stock will find some support from the long-term average at approximately $321.04. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell 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 Wednesday, November 22, 2023, and so far it has fallen -4.88%. 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 fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

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Support, Risk & Stop-loss for Meta stock

On the downside, the stock finds support just below today's level from accumulated volume at $298.67 and $297.74. 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 $298.67. If this is broken, then the next support from accumulated volume will be at $297.74 and $288.35.

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 $6.10 between high and low, or 1.90%. For the last week, the stock has had daily average volatility of 2.32%.

Our recommended stop-loss: $307.13 (-5.45%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 6 days ago.)

Trading Expectations (META) For The Upcoming Trading Day Of Monday 4th

For the upcoming trading day on Monday, 4th we expect Meta Platforms, Inc. to open at $324.15, and during the day (based on 14 day Average True Range), to move between $317.13 and $332.51, which gives a possible trading interval of +/-$7.69 (+/-2.37%) up or down from last closing price. If Meta Platforms, Inc. takes out the full calculated possible swing range there will be an estimated 4.74% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $327.15 (0.72%) than the support at $298.67 (8.05%), 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. stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Meta stock to perform well in the short-term.

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