META Technical Analysis and GEX Insights for Option Trading
Technical Analysis:
* Trend: The chart indicates META is forming an ascending wedge, signaling potential bullish continuation if the price breaks above the resistance at $720.
* Support and Resistance:
* Immediate resistance lies at $718.90, which aligns with the highest positive NETGEX level and CALL resistance.
* Support is observed at $704.87 and a stronger level near $690 (PUT support).
* Volume: Volume is moderate, suggesting a balanced interest in both sides of the market.
* Indicators:
* MACD: Shows bullish momentum, with the signal line crossing above the MACD line.
* Stochastic RSI: Near the mid-level, suggesting a potential upward move if momentum sustains.
GEX Insights:
* Call Wall: $720 represents significant resistance, with a 70.09% probability of holding strong due to heavy call options.
* Put Wall: Strong PUT support is seen at $690, indicating a robust bearish floor.
* Options Sentiment: With GEX showing 18.9% call bias and IVX at -1.41%, the market leans towards limited upward momentum.
Strategy Suggestion:
* Bullish Play:
* Entry: Above $718.90 (confirm breakout).
* Target: $730 (psychological level).
* Stop-Loss: Below $704.87.
* Bearish Play:
* Entry: Below $704.87.
* Target: $690.
* Stop-Loss: Above $720.
Price Action Note:
Market dynamics can change significantly after the open. Ensure you verify the real-time data and adjust entries accordingly.
Disclaimer:
This analysis is for educational purposes only and does not constitute financial advice. Always conduct your research and trade responsibly.
* Trend: The chart indicates META is forming an ascending wedge, signaling potential bullish continuation if the price breaks above the resistance at $720.
* Support and Resistance:
* Immediate resistance lies at $718.90, which aligns with the highest positive NETGEX level and CALL resistance.
* Support is observed at $704.87 and a stronger level near $690 (PUT support).
* Volume: Volume is moderate, suggesting a balanced interest in both sides of the market.
* Indicators:
* MACD: Shows bullish momentum, with the signal line crossing above the MACD line.
* Stochastic RSI: Near the mid-level, suggesting a potential upward move if momentum sustains.
GEX Insights:
* Call Wall: $720 represents significant resistance, with a 70.09% probability of holding strong due to heavy call options.
* Put Wall: Strong PUT support is seen at $690, indicating a robust bearish floor.
* Options Sentiment: With GEX showing 18.9% call bias and IVX at -1.41%, the market leans towards limited upward momentum.
Strategy Suggestion:
* Bullish Play:
* Entry: Above $718.90 (confirm breakout).
* Target: $730 (psychological level).
* Stop-Loss: Below $704.87.
* Bearish Play:
* Entry: Below $704.87.
* Target: $690.
* Stop-Loss: Above $720.
Price Action Note:
Market dynamics can change significantly after the open. Ensure you verify the real-time data and adjust entries accordingly.
Disclaimer:
This analysis is for educational purposes only and does not constitute financial advice. Always conduct your research and trade responsibly.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.