Another profit taking day for Meta on earnings report

Yesterday we had Microsoft and google both reports good earnings report where beat their estimates but most of the traders still decide for a profit taking days. We believe that the trend might continue in this week.

Today we are going to have Meta $Meta Platforms (META.US)$ previously known as facebook to have their earnings report. Although the share price has been going up tremendously in the recent 6 months (double from its bottom). But we see this as a temporary peak, before the share price can go up any further.

Therefore we expect to see a profit taking take for Meta after its earnings release today no matter good or bad and the company share price might retrace to around 170 level for a healthy retracement.