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Meta Platforms Inc., Technical Analysis

3/13/2023 10:04 AM

The shares of Meta Platforms Inc., the US multinational holding company that owns technology conglomerate and social media giant Facebook, are trading at 179.00.

On the daily chart, a global corrective trend is forming, within which the price is above the price gap of 153.00–180.00.

The four-hour chart of the asset shows that the prospects for further growth of the asset are high, confirmed by the possible formation of a local trend continuation Flag pattern with the implementation level around 189.00. If the quotes fall below the mid-February low at 169.00, further movement to the beginning of the price gap at 153.00 is possible.

Technical indicators keep a buy signal: fast EMAs on the Alligator indicator remain above the signal line, and the AO histogram forms corrective bars in the buying zone.

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