META: Potential 5 to 10 Bagger in 2024

4 апр.

Fundamentals:
If the NFP numbers explode up on Friday, then that means that the FED might have to increase rates, putting pressure on US companies' earnings. This may cause META to topple a bit before earnings. If not, then the same rate for longer. It is the first Friday of the week.

Sales have accelerated in META and earnings are above 20% q/q. However, its three-year earnings are below 5%. But if this changes when earnings come out in April 2024, then that will renew META as a super stock for 2024. It will be added to the two I already have: NOW, and NVO.

Technical Market Scenario:
The SPX500 has a 2.5%-10% market correction. Then rallies to Around 6000 By End of 2024.

Technicals:
ON the daily chart, META broke out and pulled back with higher volume, signaling caution for tomorrow. If it does not continue tomorrow, then I anticipate consolidation for the month in META, then an earnings breakout.
uHd with extreme bullish indicator.
META bounced off of daily 486 horizontal support.
Daily flag pole breakout

Daily Chart:


Weekly Chart:


Comment:
If the above scenario plays out and insider and investor expectations increase or are solid, then I expect META to be at $600 to $1000 within 12 months. However, If META topples, then there is a large buy zone area to watch at $400; a confluence area of a 50% fib, horizonal support from September 2021's all-time high and kijun support.