Meta Platforms - Watch the earnings!

Hello Traders and Investors, today I will take a look at Meta Platforms.

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Explanation of my video analysis:

For more than five years Meta Platforms has been trading in a reverse symmetrical triangle formation. We saw the last retest of support back in the end of 2022 which was followed by a decent rally of +450% towards the upside. At the moment Meta Platforms is retesting the upper resistance of the triangle formation so it is quite likely that we will see at least a short term rejection towards the downside.

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Keep your long term vision,
Philip (BasicTrading)

评论:

Seems like we nailed the short setup on Meta with the earnings play.

Now it is time for a retest of the next stucture as shown below:

评论:

Seems like we saw the anticipated drop, now back again to the previous highs.

Keep in mind though that the upper resistance of the triangle is still valid...

评论:

Unfortunately no retest of the previous structure - market is too bullish.

Still we now have the valid resistance of the reverse triangle: