12Nov

Meta Platforms Inc. (META) Stocks Elliott Wave Technical Analysis: It Predicts Bullish Trends and Price Movements

META Elliott Wave Analysis for Meta Platforms Inc. (META)

This Elliott Wave analysis for Meta Platforms Inc. (META) evaluates the daily and 1-hour charts using Elliott Wave Theory to project potential market movements.


META Elliott Wave Analysis: TradingLounge Daily Chart

META Elliott Wave Technical Analysis Overview

Function: Trend

Mode: Impulsive

Structure: Motive

Position: Intermediate wave (5)

Direction: Upside in 5 of (5)

Details:
A post-triangle thrust is observed within wave 5. However, there is a possibility that wave 1 of (5) is completing rather than wave 5 of (5). In either scenario, one more upward leg is anticipated, targeting a price of $650.

Key Insights from the Daily Chart:
The daily chart for META highlights that we are approaching the final stages of wave (5) in an impulsive sequence. While the current analysis leans towards wave 5 of (5) being complete, the possibility of wave 1 of (5) cannot be dismissed. Regardless, the price is expected to rise further, likely reaching the $650 level. This aligns with the observed post-triangle thrust, supporting continued bullish momentum in the short term.

Meta-Platforms-Inc-1...


META Elliott Wave Analysis: 1-Hour Chart

Technical Analysis Overview

Function: Trend

Mode: Impulsive

Structure: Motive

Position: Wave {iv} of 5

Direction: Upside in wave {v}

Details:
Wave {iv} is nearing completion, setting up an upward move into wave {v}. This final push higher could mark the top of wave {v} of 5, or alternatively, wave (v) of {i}, which is the preferred scenario. Both cases suggest a move towards the MediumLevel of $650, a significant resistance zone.

Key Insights from the 1-Hour Chart:
The 1-hour chart indicates that META is transitioning from wave {iv} to wave {v}. The missing upward leg in wave {v} suggests further bullish activity, potentially marking the conclusion of either wave 5 of (5) or wave (v) of {i}. The $650 MediumLevel is a key target, representing a likely resistance area and signaling potential consolidation after the rally.

Technical Analyst: Alessio Barretta

Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here 

See Previous: Visa Inc Elliott Wave Technical Analysis

VALUE Offer - Buy 1 Month & Get 3 Months!Click here

Access 7 Analysts Over 200 Markets Covered. Chat Room With Support

Meta-Platforms-Inc-1...


Summary:

This Elliott Wave analysis for Meta Platforms Inc. (META) points to continued bullish momentum in both the daily and 1-hour timeframes. The $650 level remains a critical target, supported by post-triangle thrusts and impulsive wave structures. Whether META completes wave 5 of (5) or begins wave 1 of (5), investors should watch for price movement nearing this resistance point for further confirmation of the trend.

Related

Learn about BTC price movements, trading strategies, and technical indicators: Bitcoin (BTCUSD) Elliott Wave analysis

Learn about BTC price movements, trading strategies, and technical indicators: Bitcoin (BTCUSD) Elliott Wave analysis

Get an in-depth Elliott Wave analysis of Bitcoin (BTCUSD) on both daily and 4-hour charts. Learn abo...

Read More >
Euro/ U.S. Dollar (EURUSD) Elliott Wave Analysis: Daily Orange Wave 5 Impulse & 4‑Hour Gray Wave 2 Correction Signal

Euro/ U.S. Dollar (EURUSD) Elliott Wave Analysis: Daily Orange Wave 5 Impulse & 4‑Hour Gray Wave 2 Correction Signal

Daily chart shows bullish Orange Wave 5 within Navy Blue Wave 1. 4‑hour chart reflects short-term p...

Read More >
Theta Token Crypto Price News Today with Elliott Wave Analysis: Navigating the THETAUSD Market Trends

Theta Token Crypto Price News Today with Elliott Wave Analysis: Navigating the THETAUSD Market Trends

This guide provides an in-depth analysis of the Theta Token (THETA/USD) trading pair, utilizing Elli...

Read More >
Costco Wholesale Corp.(COST:NASDAQ) Elliott Wave Technical Analysis 1 November 23

Costco Wholesale Corp.(COST:NASDAQ) Elliott Wave Technical Analysis 1 November 23

Costco Wholesale Corp.(COST: NASDAQ) Elliott Wave Technical Analysis confirming the overall upside t...

Read More >
Investing in Stocks, ETFs, or index funds: S&P 500 Index Elliott Wave Technical Analysis for Bullish and Bearish Markets

Investing in Stocks, ETFs, or index funds: S&P 500 Index Elliott Wave Technical Analysis for Bullish and Bearish Markets

Explore in-depth S&P 500 Elliott Wave analysis with a focus on trading strategies and investment tip...

Read More >
Expert Forecasts, Technical Indicators, and Market Insights: Uniswap Crypto Price News Today Elliott Wave Technical Analysis

Expert Forecasts, Technical Indicators, and Market Insights: Uniswap Crypto Price News Today Elliott Wave Technical Analysis

Explore detailed Uniswap (UNIUSD) Elliott Wave analysis with insights into price predictions and mar...

Read More >

$1 for 2 Weeks

then $29 a month!

What a Special Offer!

Trade Recommendations

Unleash the power of deversified trading with our comprehensive portfolio, covering 250+ markets:

  • Stock Trades
  • Crypto Trades
  • Forex Trades
  • Commodity Trades
Elliott Wave Analysis

Gain a competitive edge with expert insights and AI-powered Elliott Wave charting into:

  • Global Indices
  • US Stocks & ASX Stocks
  • Forex & Crypto
  • Commodities
Top-Notch Trading Tools

Equip yourself with the tools of success:

  • Real-time Chat rooms
  • Elliott Wave Algorithm
  • Portfolio tools
  • TradingLevels
  • Screener
  • Trading Game
7 Elliott Wave Analysts

Stay ahead of the market with daily charts and insightful videos
Your secret to strategic trading!

JOIN HERE


Welcome to TradingLounge (ASIC A.R.No. 321187), specialists in trades, trading education and technical analysis, covering stocks, indices, commodities, forex and cryptocurrencies.

When you join TradingLounge you have access to everything we offer, including trade tools, educational content and a social platform to chat with like-minded investors.

Read more

@Copyright 2024 by tradinglounge.com

Contact Us

Australian no: 02 4787 6020

International no: +61 (2) 47876020

Pay with:

Find us on