Meta Platforms Hello community,
Update on the META action in daily.
Nice double TOP.
Last night's results are pulling prices down!
Make your opinion, before placing an order.
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META trade ideas
Mega cap earningsIt's a big week of Mega cap earnings. I noticed a pattern from NFLX 2 weeks ago, TSLA last week and GOOGL last night earnings. Price action hit +3ATR above SMA20. I would expect this pattern to continue for MSFT & META tonight and for AMZN & AAPL on Thursday. However, since the long entry point was a much better setup heading into NFLX, TSLA & GOOGL earnings. There's limited up side left for MSFT, META, AMZN & AAPL now that the market has run up.
MSFT earnings 10/30 @ 4:10pm
+3ATR resistance = 446
SMA20 = 421
-3ATR support = 396
MSFT 11/1 options data
Put Volume Total 24,163
Call Volume Total 43,342
Put/Call Volume Ratio 0.56
Put Open Interest Total 64,014
Call Open Interest Total 84,645
Put/Call Open Interest Ratio 0.76
META earnings 10/30 @ 4:05pm
+3ATR resistance = 627
SMA20 = 584
-3ATR support = 539
META 11/1 options data
Put Volume Total 42,585
Call Volume Total 59,067
Put/Call Volume Ratio 0.72
Put Open Interest Total 72,228
Call Open Interest Total 94,163
Put/Call Open Interest Ratio 0.77
AMZN earnings 10/31 @ 4pm
+3ATR resistance = 201
SMA20 = 187
-3ATR support = 173
AMZN 11/1 options data
Put Volume Total 26,605
Call Volume Total 53,410
Put/Call Volume Ratio 0.50
Put Open Interest Total 94,319
Call Open Interest Total 182,861
Put/Call Open Interest Ratio 0.52
AAPL earnings 10/31 @ 4:30pm
+3ATR resistance = 245
SMA20 = 230
-3ATR support = 216
AAPL 11/1 options data
Put Volume Total 51,280
Call Volume Total 69,848
Put/Call Volume Ratio 0.73
Put Open Interest Total 124,160
Call Open Interest Total 174,506
Put/Call Open Interest Ratio 0.71
10/30/24 - $meta - Still long @ 600.10/30/24 :: VROCKSTAR :: NASDAQ:META
Still long @ 600.
- zuck dressing like he just raided the Kith store. positive.
- top tier AI team
- social platforms are less disruptable vs. general purpose software moats. zuck has several of these + top 3 AI platforms
- AR/VR and oculus further kickers
- at 24x PE next year i just see no where for this but up, for now
- we r in a mkt where if something is growing substantially above inflation (which normies think is low singles) but it's probably 15%... so above 15% you start to get stuff that *definitely* is taking share of risk capital. if you're profitable already, better. if you're larger, better. if you have an AI angle, better. if you have a social/ moat, ideal.
- dare i'd put it as my top pick, but aggressively bought options last week and have been trimming them as we enter the print so i can play risk free.
- about 5% of book at the moment (equivalent).
- genuinely would welcome a miss where we'd see better oppty for me to size up - just don't think this will be the case.
- think we see stock at MIL:1K next year.
- NASDAQ:GOOGL and NYSE:SNAP are good omens.
- so yuh. higher.
V
What do you expect from trading This channel is not providing individualized trading or investment advice, nor is it a banking service, brokerage service, trading service, investment service or money management
service.
It is just an educated guess.
META Platforms Options Ahead of EarningsIf you haven`t bought the dip on META:
Now analyzing the options chain and the chart patterns of META Platforms prior to the earnings report this week,
I would consider purchasing the 570usd strike price Puts with
an expiration date of 2024-11-1,
for a premium of approximately $21.75.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
StarThe week is coming to its end and the candles are building a star. This may be considered as a trend turning formation. I don't want to judge whether the trend will really turn around but I think that at correction of the rise over the past 2 weeks is quite possible,
I don't expect that the sentiment will change tomorrow and so I think that a short will perhaps has more liability to be profitable than a purchase.
MetaIn my last meta post I said a pullback was warranted and we did get one just not to the extent I wanted and not as quickly as I wanted it.. the pullback was controlled and has now actually for a bullflag inside a wedge that I think will push meta pass 600
META:Will META Rebound or Continue Downward? Key Levels to WatchMETA, the price seems to have pulled back after a recent drop and is showing a bit of a rebound from the support zone around $561-$569. The volume suggests selling pressure is fading as the price approaches a previous consolidation area. Resistance levels around $570-$584 may challenge further upward movement.
For tomorrow through the weekend:
If META holds above the $569 support level, it could attempt to push toward $584 or higher.
If it breaks down below $569, it could retest the lower support levels near $561 or lower.
Overall, it looks like the price action may consolidate or attempt a bounce in the short term.
Keep an eye on volume and momentum to see if the recovery holds or fades.
$META $562.50 needs to holdMETA - stock held $563.50 previous support level. looking for puts if level breaks. Stock is bullish if $575 breaks for a move towards $600 and higher. Stock has gap to fill to the downside from $550 to $538.90. Stock is weak on indicators. could pull lower is support breaks.
$META Falling wedge.NASDAQ:META Falling wedge into the support. Now bouncing off that level. Would be interesting above 583.95$.
Oil gold silver dxy Natural Gas10.21.24 Natural Gas has triggered a long trade with a 2 bar reversal going higher after it closed to a low on Friday and then had bullish price action over the weekend. if you look closely at this time you'll see that there's a two-bar reversal going lower at the time of this video.. so you want to stay with this Market with a stop below today's initial low... so if I were long at the 2 bar reversal going higher I would stick with this and not stop and reverse.
Short, target 549.26Following daily chart.
Last 5 days closed red and it's under fibo level again, also under EMA13 level. I am also following some different RSI levels and they're all tell me it's losing power a lot.
So, my target is %50 pull pack In total, which is 549.25, also which is still above important resistance levels.
Above 598, I'd stop.
Thoughts?
META ATH OR PULLBACKmeta target for earnings we either hit ATH again getting above 600.
Target to the downside 541.80
PRICE TOPPING OUT SOON (BETWEEN 628/686 LEVELS)Price action has made two important gaps in the current bull campaign
First gap occurred between 248 and 289 price levels
Second gap between 410 and 452 levels
The gap ranges give a clue of the expanding sequence and puts the next range between 628 and 686 levels preferably as a top.
From the origin in May 2012 to the August 2021 high we made 486 weeks advance and 366.78 points between the primary low 17.55 and the high at 384.33.
The data produces a time sequence ( 0 - 486 - 658/686 - 742/765) weeks as time markers
Price sequence = (0 - +366/386 - +628/686) points.
Currently price is reaching the 600 mark and time at 648 weeks, a convergence around the 658/686 sequence for both price and time. We expect price to top within this range for a multi-year correction.
Trade safe, good luck
META - Doors Wide Open For Risk On As I covered in the weekend video, with S&P leading up and away, it would appear to be a very good moment to top up on some giant stocks.
META looks very nice in this area.
It has completed a 3 wave correction and it would appear the next wave up is underway.
This is also in consideration that there has been 0 negative reaction to the FED "jumbo sized" interest rate cut.
It has only been positive and there was no whipsaw.
This tells us that the biggest money had already made their moves.
It would appear that the doors are wide open for risk on.
And it would appear a great moment to hop onto some trending stocks such as META here 👍
Meta: Top Placed!In line with our primary assumption, META recently reached the resistance line at $600.27. The upward movement paused at this level, and we now expect a short-term wave C decline, pushing the price below the support at $399. However, we also see an increased likelihood (39%) of a higher high for the green wave alt.(1). This alternative scenario will be quickly triggered if the price breaks above the $600.27 mark
Meta (META) Testing Key Levels: Breakout or Breakdown? Evening Traders
Meta (META) is currently trading in a key range, and the next move could be significant! 📊
Upside Potential: If META breaks above the critical resistance at $596, we could see a rally toward the next target of $600.44. 📈 Bulls should watch for momentum above this level as a potential breakout zone.
Downside Risk: A failure to hold the current support at $582.99 could see META retrace toward the next major support at $569.35. 📉 Bears will be eyeing a break below this level for further downside action.
Stay alert for a strong move in either direction! This chart is loaded with opportunities for both bulls and bears. 🔥
Mindbloome Trader
Happy Trading :)
META AND EARNINGS, WHAT IS IMPORTANT FOR PRICE?I added some drawing lines to show essentially what a move could look like that takes meta higher, and just as easy, earnings could be the a drop that goes below 400.
So price targets are marked.
There is a big area in price here where the move to the upside could be pretty decent.
I have a few charts for meta however this one is the most likely outcome.
Former rejection lines are now support.
META could easily see 900 levels.
META could easily see 300 levels.
Timing isn't really important here.
Watch for a BIG earnings drop.
Otherwise if we catch support, it could easily spring up.
Again, I know this isn't really an answer for exact price.
However, the trends are important, and we could easily see something happen here as indicators reset, projection has right around earnings.
Good luck!
META short term trade ideaNASDAQ:META - nice wedge. Breaking out. Need more volume. Might work sometime next week.
***NOT A FINANCIAL ADVICE ***
Elliottwave Double Correction in META Provide Buying OpportunityShort Term Elliott Wave View in META suggests that rally from 7.25.2024 low is in progress as an impulsive structure. Up from 7.25.2024 low, wave (1) ended at 544.23. Wave (2) pullback ended at 495.51 as the 1 hour chart below shows. Up from there, the stock extended higher in wave ((3)) as an impulse. Wave 1 of (3) ended at 527.94 and pullback in wave 2 of (3) ended at 517.11. Stock extends higher again in wave 3 of (3) towards 583.04 and wave 4 of ((3)) ended at 566.4. Final leg wave 5 ended at 602.95 which completed wave (3).
Wave (4) pullback is currently in progress as a double three Elliott Wave structure. Down from wave 93), wave W ended at 581.61 and rally in wave X ended at 592.18. Expect Wave Y to extend lower towards 100% – 161.8% Fibonacci extension of wave W. This area comes at 557.7 – 579.8 where wave Y of (4) should end. From this area, the stock should resume higher again or at least rally in 3 waves. Near term, as far as pivot at 495.51 low stays intact, expect pullback to find support in 3, 7, or 11 swing for further upside.
META is approaching the all-time high.NASDAQ:META has been consolidating under $545 for several months and is starting to trade towards the top of the range. If it can confirm and build above its all-time high, there is significant space on the daily chart for it to go higher.
