Riding Wave 5: Is $700 Just Around the Corner?Hey Realistic Traders, Will META Bullish Bias Continue ? Let’s Dive In....
In the Daily timeframe, META rebounded above the 38.2% Fibonacci level, marking the completion of wave 4. Within this wave, a Descending broadening wedge pattern was formed. Recently the price has broken out of the pattern. This breakout was further confirmed by a bullish MACD crossover, signaling increasing momentum and strengthening the case for a continued upward move.
Based on these technical signals, I foresee a potential upward movement toward the first target at $638. After reaching this level, a minor pullback is likely before the rally continues toward a new high at $700.
This outlook remains valid as long as the price holds above the stop-loss level at 550.00.
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Disclaimer: "Please note that this analysis is solely for educational purposes and should not be considered a recommendation to take a long or short position on META.
