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Meta Platforms Inc., Technical Analysis

12/19/2022 10:07 AM

Shares of Meta Platforms Inc., the American multinational holding company that owns the technology conglomerate and the largest social network Facebook, are moving in a corrective trend at 119.00.

On the daily chart, there is a formation of a global downtrend, within which the price, having sharply decreased, formed a price gap of 100.00–130.00 and is now trying to work it out.

The four-hour chart shows that the prospects for quotes growth are not high, and the movement is developing within the local ascending corridor with dynamic boundaries of 116.00–132.00, and the key resistance is 124.00, which market participants have already tested unsuccessfully twice.

Technical indicators confirm the likelihood of an upward correction, holding a buy signal: fast EMAs on the Alligator indicator are above the signal line, and the AO oscillator histogram forms corrective bars in the buying zone.



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