* Price Action: META is consolidating between the key resistance at $716.17 and support at $676.49. A breakout above the resistance level could indicate further upside momentum, while a breakdown below $676.49 might signal a bearish shift.
* Trend Analysis: The stock has been maintaining an uptrend channel, supported by ascending trendlines. However, the current sideways movement suggests a pause in momentum.
* Indicators:
* MACD: Indicates a slight bearish crossover, signaling potential short-term weakness.
* Stochastic RSI: Currently oversold, hinting at a possible bounce or retracement in the near term.
* Volume: Diminished activity during consolidation phases reflects indecision among traders.
GEX and Options Analysis:
https://www.tradingview.com/x/tiaXcq4o/
* Call Wall: Strong resistance at $700 (30.67%) and $716 (highest positive GEX and gamma wall).
* Put Wall: Key support levels are at $600 and $585, with $600 being the highest negative GEX/put support.
* IVR and IVx: IVR at 13.7 and IVx average at 33.9, indicating relatively low implied volatility compared to its historical range.
* Options Sentiment: Call positioning at 29.3%, with a bearish tone as puts dominate the sentiment.
Trading Plan:
1. Bullish Scenario:
* Entry: Above $716.20 with confirmation.
* Targets: $730, $740, and $750.
* Stop-Loss: Below $705.
2. Bearish Scenario:
* Entry: Below $676.
* Targets: $660, $645, and $630.
* Stop-Loss: Above $690.
Option Trade Suggestions:
1. Bullish Setup: Buy the $720 call expiring in 2-3 weeks if the price breaks $716 with strong volume.
2. Bearish Setup: Buy the $660 put expiring in 2-3 weeks if the price drops below $676.
Conclusion and Thoughts:
META is currently in a consolidation phase. Traders should watch for a breakout or breakdown from the current range to confirm the next trend direction. The GEX data suggests strong resistance at $700-$716, making it a critical level for bulls to overcome. Conversely, bears need to push the stock below $676 for further downside.
Disclaimer: This analysis is for educational purposes only and not financial advice. Prices and setups are based on the current chart and may change in the premarket. Adjustments are required for real-time data. For questions, please PM me.,
Technical Analysis of META Stock
Key Points Summary
– **Price Action:** META is currently fluctuating between resistance at $716.17 and support at $676.49. A breakout above resistance may lead to upward momentum, while a breakdown might indicate bearish sentiment.
– **Trend Analysis:** The stock is maintaining an upward trend supported by ascending trendlines, but current sideways movement suggests a pause in upward momentum.
– **Indicators:**
– **MACD:** A slight bearish crossover indicates potential short-term weakness.
– **Stochastic RSI:** Currently in oversold territory, suggesting a potential bounce or retracement.
– **Volume:** Reduced trading volume during consolidation suggests trader indecision.
GEX and Options Analysis
– **Call Wall:** Resistance levels at $700 (30.67% GEX) and $716 (highest positive GEX/gamma wall).
– **Put Wall:** Support found at $600 and $585, with $600 representing the highest negative GEX/put support.
– **Implied Volatility Ratios (IVR and IVx):** IVR at 13.7 reflects relatively low implied volatility, while IVx average at 33.9 suggests a variance relative to historical norms.
– **Options Sentiment:** Currently shows a bearish tone with call positioning at 29.3% indicating a dominance of puts.
Trading Plan
– **Bullish Scenario:**
– **Entry:** Above $716.20 with confirmation.
– **Targets:** $730, $740, $750.
– **Stop-Loss:** Below $705.
– **Bearish Scenario:**
– **Entry:** Below $676.
– **Targets:** $660, $645, $630.
– **Stop-Loss:** Above $690.
Option Trade Suggestions
– **Bullish Setup:** Consider purchasing the $720 call option expiring in 2-3 weeks if the price crosses above $716 with robust trading volume.
– **Bearish Setup:** Purchase the $660 put option expiring in 2-3 weeks if the stock declines below $676.
Conclusion and Thoughts
META is presently in a critical consolidation phase, making it essential for traders to monitor breakout or breakdown triggers for directional guidance. GEX data highlights robust resistance in the $700-$716 range, forming key battle lines for bulls. Conversely, a movement below $676 is crucial for bears aiming for lower targets. With mixed signals from technical indicators, traders must exercise caution and prepare for possible volatility in the upcoming trading sessions.
Disclaimer. The opinions expressed by our writers are their own and do not represent the views of JustInvestNews . The financial and market information provided on JustInvestNews is intended for informational purposes only. JustInvestNews is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Original article: https://www.tradingview.com/chart/META/2o9jnbki-META-Technical-Analysis-and-GEX-Insights/
