Meta PlatformsLong
Meta Platforms Inc. (META): Long-Term Elliott Wave Perspective
🚨 Disclaimer: This is for educational purposes only. Not financial advice. Always consult a financial professional before investing.
Elliott Wave Breakdown
Macro Structure:
- Meta is in a right-side bullish cycle, showcasing an impulsive Elliott Wave structure on the weekly chart.
- The chart highlights a completed Wave III with a potential corrective structure (Wave IV) underway.
Current Position:
- Price: $585.51
- Wave III reached its peak, completing a five-wave structure.
- Meta is in the early stages of forming an ABC corrective wave as part of Wave IV.
Wave IV Correction:
- Wave IV is expected to retrace to the $480–$520 zone, forming an ABC corrective structure.
- Post-correction, Wave V should lead to new highs.
Invalidation Level:
- The invalidation level for the bullish structure is $87.75. Falling below this level would negate the current wave count.
Key Levels to Watch
Support Zones:
- $520: Key retracement level for Wave IV.
- $480: Deeper correction support.
Resistance Zones:
- $650: Immediate resistance zone.
- $720+: Target zone for Wave V.
Technical Indicators
Fibonacci Retracement Levels:
- 38.2% retracement: $520
- 50% retracement: $480
Wave V Targets:
- Fibonacci extensions project Wave V beyond $700, possibly reaching $840 in an extended bull run.
Strategy Suggestions
Long-Term Investors:
- Buy Zone: $480–$520 during the Wave IV correction phase.
- Long-term targets suggest significant upside potential as Meta heads toward Wave V.
Macro Catalysts to Monitor
- Earnings Growth: Meta’s revenue from ads and metaverse investments will play a significant role in driving momentum.
- Sector Sentiment: Growth in the tech sector will directly impact Meta’s performance.
- Market Conditions: Federal Reserve policy, interest rates, and broader economic conditions will shape the price trajectory.
Conclusion
Meta remains a strong long-term bullish candidate with a clear Elliott Wave structure. While a corrective Wave IV pullback is expected, it offers a great buying opportunity for those targeting the next impulsive rally into Wave V.
💡 How are you trading Meta? Share your insights or ask questions below! 🚀
Elliott Wave Breakdown
Macro Structure:
- Meta is in a right-side bullish cycle, showcasing an impulsive Elliott Wave structure on the weekly chart.
- The chart highlights a completed Wave III with a potential corrective structure (Wave IV) underway.
Current Position:
- Price: $585.51
- Wave III reached its peak, completing a five-wave structure.
- Meta is in the early stages of forming an ABC corrective wave as part of Wave IV.
Wave IV Correction:
- Wave IV is expected to retrace to the $480–$520 zone, forming an ABC corrective structure.
- Post-correction, Wave V should lead to new highs.
Invalidation Level:
- The invalidation level for the bullish structure is $87.75. Falling below this level would negate the current wave count.
Key Levels to Watch
Support Zones:
- $520: Key retracement level for Wave IV.
- $480: Deeper correction support.
Resistance Zones:
- $650: Immediate resistance zone.
- $720+: Target zone for Wave V.
Technical Indicators
Fibonacci Retracement Levels:
- 38.2% retracement: $520
- 50% retracement: $480
Wave V Targets:
- Fibonacci extensions project Wave V beyond $700, possibly reaching $840 in an extended bull run.
Strategy Suggestions
Long-Term Investors:
- Buy Zone: $480–$520 during the Wave IV correction phase.
- Long-term targets suggest significant upside potential as Meta heads toward Wave V.
Macro Catalysts to Monitor
- Earnings Growth: Meta’s revenue from ads and metaverse investments will play a significant role in driving momentum.
- Sector Sentiment: Growth in the tech sector will directly impact Meta’s performance.
- Market Conditions: Federal Reserve policy, interest rates, and broader economic conditions will shape the price trajectory.
Conclusion
Meta remains a strong long-term bullish candidate with a clear Elliott Wave structure. While a corrective Wave IV pullback is expected, it offers a great buying opportunity for those targeting the next impulsive rally into Wave V.
💡 How are you trading Meta? Share your insights or ask questions below! 🚀
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.