META Stock Forecast
Green day on Friday for META stock after gaining 2.33%
(Updated on May 03, 2024)
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect META stock with a 90% probability to be traded between $430.71 and $528.17 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
A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 5.07%. Further rise is indicated until a new top pivot has been found. 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. The META stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $489.48. On a fall, the stock will find some support from the short-term average at $440.04. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for META stock
META finds support from accumulated volume at $443.29 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $10.16 between high and low, or 2.29%. For the last week, the stock has had daily average volatility of 3.05%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (META) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Meta Platforms, Inc. (Formerly Facebook / FB) to open at $450.04, and during the day (based on 14 day Average True Range), to move between $433.55 and $470.37, which gives a possible trading interval of +/-$18.41 (+/-4.07%) 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 8.15% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $459.41 (1.65%) than the support at $443.29 (1.92%), 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 negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.994 Sell Candidate Unchanged
Predicted Opening Price for Meta Platforms, Inc. (Formerly Facebook / FB) of Monday, May 6, 2024
Fair opening price May 6, 2024 | Current price |
---|---|
$450.04 ( 0.425%) | $451.96 |
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 | |||
---|---|---|---|---|
Resistance | R3 | 460.20 | 1.82 % | |
R2 | 456.32 | 0.96 % | ||
R1 | 453.92 | 0.434 % | ||
Current price: | 451.96 | |||
Support | S1 | 446.16 | -1.28 % | |
S2 | 443.76 | -1.81 % | ||
S3 | 439.88 | -2.67 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 484.10 | 7.11 % | |
R2 | 484.03 | 7.10 % | ||
R1 | 459.41 | 1.65 % | ||
Current price | 451.96 | |||
Support | S1 | 443.29 | -1.92% | |
S2 | 441.38 | -2.34% | ||
S3 | 432.62 | -4.28% |
META Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 01, 2024 | Feb 21, 2024 | Mar 26, 2024 | $0.500 | 0.101% |
FAQ
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