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$Meta Platforms (FB.US)$ Are we about to see a reversal to t...
Are we about to see a reversal to the upside or is this a potential dead cat bounce? How to tell which one is it?
I did a video to explain the technicals of Meta and where it will possibly head this week and also supports & resistance to look out for!
I did a video to explain the technicals of Meta and where it will possibly head this week and also supports & resistance to look out for!
Do watch if you have not so you know what to expect this week!
As always, trade safe & invest wise!
Link to my video below. Do subscribe to my youtube channel if you have not so you dont miss any future technical analysis videos. Stay ahead of the market!
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sloky : Thank you for the detailed video! Is it safe to say meta has a strong resistance at 298 currently? And it may be a good buy in now? Or got to observe further
Investing 101 OP sloky : think you meant strong support at 298. As of now, I still see QQQ/Nasdaq 100 falling further. Selling momentum is still very strong there. Thus meta will be dragged further. Just maybe not as bad as the rest of the stocks. But I would put any buying of tech stocks on hold for now and monitor the general market sentiment first.
sloky Investing 101 OP : Oh yes yes strong support thanks. Is this market fall likely to drag on till current variant chill down? On a side note, now that Chargepoint falls down back down to 21+, do you think it’s a good entry point?
Investing 101 OP sloky : currently market seems to be undergoing a pullback or maybe even a potential correction in the making. VIX is sitting high and NDX formed H&S as I mentioned on the QQQ analysis. This does not look exceptionally well for tech stocks. So any tech related stocks I will likely put it on hold until further confirmation that QQQ pullback or correction has bottom out before entering.
Is this current sell off due to omicron? I dont think so, as I mentioned the pullback coming 2 weeks before it even came. Omicron news just triggered it. But market was overextended and a pullback was due before even the discovery of a new mutation.
sloky Investing 101 OP : But I thought the market did had some pullback not too long ago? This round of pullback/correction is a lot much worse, the stocks generally dropped by quite a significant percentage
Investing 101 OP sloky : Yes recently had a pullback. Then a crazy rally. Resulting in over extension. Which is why there is now another sell off.