Solid News

Meta Platforms Inc Trading in a Global Downtrend

1/26/2023 3:01 PM

The stocks of Meta Platforms Inc., an American multinational holding company that owns a technology conglomerate and the largest social network Facebook, are moving in a corrective trend around the 141.00 mark.

Earlier, analysts at Morgan Stanley financial holding adjusted forecasts for the issuer's shares to 130.0 dollars from 100.0 dollars earlier, referring to the fact that the company announced an increase in investments in infrastructure projects and modernization of data centers. At the same time, the pressure on the technology sector is not easing amid the policy of reducing the number of employees. Thus, the management of Meta Platforms Inc. announced that up to 13.0% of specialists or 11.0K people will be fired in 2023.   

Assessing the financial condition of the company, it is worth noting that Meta Platforms Inc. will publish its financial report on February 1. According to analysts' forecasts, revenue could reach 31.45B dollars, which is lower than the previous estimate of 31.59B dollars, but still significantly exceeds 27.71B dollars in the last quarter. Earnings per share are expected to be around 2.24 dollars, which is also inferior to the earlier estimate of 2.29 dollars, but above 1.64 dollars a quarter earlier.

On the daily chart, the price continues to trade in a global downtrend, rising in the local corridor with the boundaries of 133.00–164.00.

Technical indicators have already reversed and given a clear signal to open long positions: the fast EMAs of the alligator indicator are significantly higher than the signal line, and the histogram of the AO oscillator, being in the purchase zone, forms ascending bars again. 

Support levels: 133.00, 109.00. | Resistance levels: 146.00, 172.00.

Find Us
Registered Address : Bonovo Road – Fomboni Island of Mohéli – Comoros Union
Sofia, PO Box 1407,14 Flip Kutev Str. Floor 2, Industrial area Hladilnika, Bulgaria
Call Us
+35 924 928 392

Risk Warnings
Solid ECN Securities LLC offers trading on Foreign Exchange (‘Forex’ or ‘FX’) and Contracts for Difference (‘CFDs’), which are complex financial products that are traded on margin. They carry a high level of risk since leverage can work both to your advantage and disadvantage. As a result, these products may not be suitable for all investors, as loss of all invested capital may occur. You should not risk more than you are prepared to lose. Before deciding to trade, you need to ensure that you understand the risks involved and consider your investment objectives and level of experience. Seek independent advice, if necessary.
Solid ECN Securities LLC does not issue advice, recommendations or opinions in relation to acquiring, holding or disposing of a CFD. Solid ECN Securities LLC is not a financial advisor and all services are provided on an execution-only basis. This communication is not an offer or solicitation to enter into a transaction and shall not be construed as such.
This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.
By using you agree to use our cookies to enhance your experience.
Solid ECN Securities LLC is authorized and regulated by the Comoros Union with reference number HY00623411.
Disclaimer 1: The information provided on this site is not intended for residents of any country or jurisdiction where its distribution or use would violate local laws or regulations.
Disclaimer 2: Solid ECN Securities LLC and it affiliates does not provide services to residents of the USA, Japan, Canada, Australia, the Democratic Republic of Korea, European Union, United Kingdom, Iran, Syria, Sudan and Cuba.
Copyright All Right Reserved 2024