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Stocks

$META – Monthly Update –

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Long Term META Monthly Open Articles Timeframe Weekly
1086

META has been weak since mid-August. Is it finally set to explore lower lows, or not so fast? Let’s evaluate the recent monthly closure and other technical signals to see what’s around the corner.

CANDLES

META failed to close September with a bearish confirmation. Instead, it printed a monthly candle with more bullish than bearish qualities.

Early October was also instructive: the stock fell on day one, then found support at the 100-DMA on day two while forming a bullish Kicking combo. If this combo is confirmed tomorrow (Friday), there’s a fair chance of expanding the bullish odds and reversing the currently bearish weekly frame.

Elliott Waves

Back in June I outlined META’s long-term outlook, and the setup looks ready to build further. Price has likely carved a classic flag with near-ideal proportions, and two paths stand out:

  • Red: the flag as wave iv (more likely), implying ~12% upside to complete wave v.
  • Blue: the flag as the entire wave (ii) (possible but less probable), implying ~22% higher—potentially only wave i of (iii).

We don’t yet have enough technical evidence to choose between them; the next 1–2 months should make the wave structure clear.

SUMMARY

Tomorrow could be a turning point for META. If it confirms a reversal on the smaller frames and halts the weekly slide, investors should be prepared for a massive rally.

Long Term META Monthly Open Articles Timeframe Weekly
1086
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