📊 $META (Meta Platforms) – Daily Technical Analysis & Trade Plan
Price Stats:
Open: 637.96 | High: 640.44 | Low: 626.15 | Close: 640.34 | Change: -0.55%
🔍 Technical Structure:
Wave Analysis:
$META appears to be in the middle of a strong Wave 3 to the upside, having broken out above key resistance levels with impulsive structure and volume. Price has extended beyond the cloud and is targeting higher Fibonacci extension zones.
Momentum Confirmation:
Price recently broke above 622.54 and is now holding support at 634.53, confirming prior resistance levels as support. The impulsive nature and separation from the cloud suggest continuation of Wave 3 is in play.
Fibonacci Extensions:
The 1.618 Fib extension of the prior move points to 656.82, already tested, and a breakout above this level could accelerate toward the 2.618 projection near 735.51.
🔼 Resistance Levels:
656.82 (1.618 Fib) | 673.67 | 696.89 | 710.47 | 735.86 | 754.39
🔽 Support Levels:
634.53 (recent breakout base) | 622.54 | 609.11 | 600.00 | 588.00 | 579.00 | 569.00
✅ Bullish Scenario:
Trigger: Daily close above 656.82
Trade Setup:
Entry: Above 656.82
Targets: 673.67 → 696.89 → 735.00
Stop: Below 622.54
⚠️ Bearish Scenario:
Trigger: Breakdown below 622.54 support
Trade Setup:
Entry: Below 622.00
Targets: 609.00 → 588.00
Stop: Above 640.50
🧭 Strategy Notes:
$META is following a classic impulsive breakout structure consistent with Wave 3. Price has cleared major cloud resistance and is approaching the 1.618 Fib extension. Watch for continuation above 656.82 to confirm momentum or for a corrective pullback to retest lower supports before the next leg higher.
