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Technical view: Meta Platforms Inc. (META)

Technical view

Meta (FB) is in stage #4. Are we seeing the end of Meta’s year-long decline? It is still in stage #4 but definitely improving. If this trend continues and it starts morphing back into stage #1 or even resumes stage #2, that would be a feast and a great opportunity to buy. You don’t have to fish for a bottom; it is OK to buy at a higher price if the new trend confirms. It’s better to buy slightly higher (and still at a great valuation) than buy now, thinking it was the bottom, and the stock crashes lower from here.

Technical view weekly

Fundamentally, the stock offers a great value (if the estimates hold), but the trend is down. The estimates for the upcoming years were not revised and that provides a great opportunity for 180% growth in the next 2 years (60% annualized growth). It all depends on the company and its leadership to turn the table and reverse the course. Until then, the stock will keep bleeding. But as soon as we see improvement, then a reversal in the trend, buy as much as possible. But not today, although it is probably happening, and the stock may be finally forming the bottoming pattern! I still recommend tactically waiting.

Technical view

If this trend reverses, this stock may be a great feast. Let’s see how it develops over time.

Technical view

The stock is now HOLD

This post was published in our newsletter to our subscribers on Saturday, December 17th, 2022. If you want to learn more about our stock technical analysis subscribe to our weekly newsletter.

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