Current trend

Shares of Meta Platforms Inc., an American multinational holding company that owns a technology conglomerate and the largest social network Facebook, are moving as part of a long-term upward trend: the price reversed at 281.25 (Murrey level [1/8]), crossed Murrey’s trading range upward and is actively testing its upper limit is 500.00 (Murrey level [8/8]), consolidation above which will allow it to reach the reversal zone of 531.25 (Murrey level [ 1/8]) and 562.50 (Murrey level [ 2/8]). In the event of a breakdown of the key “bearish” level of 437.50 (Murrey level [6/8]), a decline to the central mark of the trading range 375.00 (Murrey level [4/8]) and to 343.75 (Murrey level [3/8]) is expected.

Technical indicators do not give a single signal: Bollinger Bands reversed horizontally after growth, the MACD histogram is decreasing in the positive zone, and Stochastic reverses upwards.

Support and resistance

Resistance levels: 500.00, 531.25, 562.50.

Support levels: 437.50, 375.00, 343.75.

Trading tips

Long positions may be opened above 500.00, with the targets at 531.25, 562.50 and stop loss 478.00. Implementation time: 5–7 days.

Short positions may be opened below 437.50, with the targets at 375.00, 343.75, and stop loss 458.00.