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Meta Platforms Inc. Technical Analysis - Meta Platforms Inc. Trading: 2023-10-26
Facebook (Meta Platforms Inc.) Technical Analysis Summary
Below 298.7
Sell Stop
Above 318.2
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Sell |
| Donchian Channel | Sell |
| MA(200) | Buy |
| Fractals | Sell |
| Parabolic SAR | Sell |
Facebook (Meta Platforms Inc.) Chart Analysis
Facebook (Meta Platforms Inc.) Technical Analysis
The technical analysis of the Facebook stock price chart on daily timeframe shows #S-FB,Daily is retreating toward the 200-day moving average MA(200) after hitting twenty-two month high two weeks ago. We believe the bearish momentum will resume after the price breaches below the lower boundary of Donchian channel at 298.7. This level can be used as an entry point for placing a pending order to sell. The stop loss can be placed above 318.2. After placing the order, the stop loss is to be moved every day to the next fractal high, following Parabolic indicator signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level (318.2) without reaching the order (298.7), we recommend cancelling the order: the market has undergone internal changes which were not taken into account.
Fundamental Analysis of Stocks - Facebook (Meta Platforms Inc.)
Facebook’s stock tumbled yesterday despite Q3 earnings beat. Will the Facebook stock price continue retreating?
Stock of Meta Platforms, Inc., the Facebook parent, ended lower on Wednesday reversing earlier gains after the social media giant reported better than expected third quarter revenue and earnings. The company posted quarterly profit of $11.6 billion and reported its largest sales in two years: $34.2 billion - up 23% over year. Earnings outperformance was attributed to increase in advertising revenue and job cuts as well as cost cutting by chief executive officer Mark Zuckerberg. However, the social media giant cut spending plans at it warned on weaker advertising trends in fourth quarter. Expectations of weaker advertising revenue is bearish for Meta stock price.
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