While everyone has now turned bearish on the stock market, I think we should now see a large bounce higher in many stocks.
For $Meta specifically, price bounced off of my support line and now looks to be squeezing higher.
The first key level price needs to make it over is $180. If we can make it over that level, then I think price will likely test the $219 level as resistance. It'll probably take a couple of tries to break that level, but I see price eventually breaking through it and heading to the $261 level which should be the final resistance before price falls lower.
I'm looking at a trade from my entry at $162 up to the $200+ level (ideally up to the $261 resistance). I've added some key pivot points to look for changes in price action.
Let's see how it plays out over the coming months.
For $Meta specifically, price bounced off of my support line and now looks to be squeezing higher.
The first key level price needs to make it over is $180. If we can make it over that level, then I think price will likely test the $219 level as resistance. It'll probably take a couple of tries to break that level, but I see price eventually breaking through it and heading to the $261 level which should be the final resistance before price falls lower.
I'm looking at a trade from my entry at $162 up to the $200+ level (ideally up to the $261 resistance). I've added some key pivot points to look for changes in price action.
Let's see how it plays out over the coming months.
Комментарий:
Went long again at $160
Still think the idea will play out over the longer term, but want a better entry if this plays out.