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

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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.

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