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META Elliott Wave Analysis Trading Lounge Daily Chart, Meta Platforms Inc., (META) Daily Chart Function: Trend. Mode: Impulsive. Structure: Motive. Position: Intermediate wave (5). Direction: Upside within wave (5). Details: We are taking off fro TradingLevel5 at 500$ and we are now looking for upside within MediumLevel at 650$ as the next target. META Elliott Wave technical analysis – Daily chart On the daily chart, Meta Platforms is in an impulsive structure, advancing within Intermediate Wave (5). After bouncing off TradingLevel5 at $500, the stock is now trending higher with $650 as the next major upside target, which aligns with a Medium Level resistance. This upward trajectory within Wave (5) suggests that the bullish trend is firmly intact, and the stock is likely to experience further gains as it approaches the $650 target. Traders should look for key resistance levels near $650 to assess the potential for a corrective wave following this strong upward move. Meta Platforms Inc.,(META) 1H Chart META Elliott Wave technical analysis Function: Trend. Mode: Impulsive. Structure: Motive. Position: Minor 3 of (5). Direction: Upside within wave 3. Details: Looking for a subdivision within wave 3 as we seem to be continuing higher in wave {v} of 3. This Elliott Wave analysis for Meta Platforms Inc. (META) examines both the daily and 1-hour charts, offering insights into the stock’s current price structure and potential future moves. META Elliott Wave technical analysis – One-hour chart On the 1-hour chart, Meta Platforms is advancing within Minor Wave 3 of (5). The current structure shows ongoing upside momentum, with further subdivision occurring within Wave {v} of 3. This suggests that the stock is in the later stages of Wave 3, but there is still room for additional upside as Wave {v} unfolds. As the price progresses, traders should watch for signs of exhaustion in Wave 3, which could indicate a pullback or correction before the next wave sequence begins. Meta Platforms Inc. Elliott Wave technical analysis [Video]…

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Filed under: News - @ September 30, 2024 12:28 pm