$Meta Platforms (FB.US)$ Meta closed at 345 resistance as I ...
$Meta Platforms (FB.US)$
Meta closed at 345 resistance as I said from the start of the week before market open! Now we will be looking at 352 resistance next week and I believe we should break it with ease. Based on my graph, it is an ascending triangle and that means higher support levels and eventually breaking past the resistance of 352 to next resistance.
Meta closed at 345 resistance as I said from the start of the week before market open! Now we will be looking at 352 resistance next week and I believe we should break it with ease. Based on my graph, it is an ascending triangle and that means higher support levels and eventually breaking past the resistance of 352 to next resistance.
Meta support level is going up day by day with the 20EMA at 336, 20SMA at 332.40 and also the ascending triangle support line at 341. These supports will go higher next week on open as they are dynamic and gets higher everyday as long the price doesnt break through.
The most immediate and strong support would be the ascending triangle support line. Because if it breaks and closes below it, that will invalidate the ascending triangle pattern. But as long as the triangle is intact, the breakout to the upside is imminent.
We can see that we are going up on higher volume than on the selling days. This are very bullish indicators that this is not selling from smart money but they are short term traders selling at the high and buying bk at the lows.
After 352 resistance, the next will be 358. But we may touch 358 and come back down for a retest on 352 support should we break that level.
As always, trade safe & invest wise!
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Master Corgi : Fb looking strong! But not looking good for PayPal
Investing 101 OP : Yes meta is indeed looking strong with low sell volume and high buying volumes. Higher lows and flat top. Bound to break.
I was tempted to sell my calls at the high of 351-352 yesterday to rebuy them back in after market sell off 2nd half of the day as I had a strong gut feeling it will drop after 2 to 3am.
However I didn't want to miss the boat as meta might not sell off together with QQQ thus I held on diamond hand. Haha.
Investing 101 OP Master Corgi : I also sold my Aapl calls at 300% gains. Will re enter after pullback for new highs to 164. I may be wrong and it will shoot towards 164 without any pullback.
Master Corgi : You dIdnt get any from NVDA?
Investing 101 OP Master Corgi : Nvda nope. I did not yet. Too much hype on it. QQQ has been heavily carried by nvidea gains past few weeks. And may trigger a pullback to 20SMA to 280s range first. Still waiting for that pullback to enter for a longer time frame long set up. Same as AMD. I'll probably go heavier on AMD due to the growth potential.
Investing 101 OP Master Corgi : PayPal is actually not looking good. I did mentioned it will likely test bottom consolidation zone support at 170s range. Till then, no buying opportunity. Only shorting opportunities.