Meta Platforms may rise to 584.00 - 598.00

494 is our pivot point.

Our preference

The upside prevails as long as 494 is support.

Alternative scenario

Below 494, expect 471 and 457.

Comment

The RSI is trading above 70. This could mean that either the stock is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the stock is above its 20 and 50 day moving average (respectively at 506.3475 and 482.1674). Finally, Meta Platforms is trading above its upper Bollinger band (standing at 526.98).

Supports and resistances

612 **

598 *

584 **

570

539.91 (USD-last)

503

494 **

471 *

457 **

Number of asterisks represents the strength of support and resistance levels.