Meta (META) stock could soon regain height

Meta stock may soon rebound as high as $225

Shares of social media giant Meta, aka Facebook, could soon begin a rebound according to technical analysis. However, the META title will have to manage to get out of the falling wedge in which it has been evolving since the beginning of spring. Such an exit would invite a bullish outlook until at least the March high at around $225, which notably corresponds to the former pre-covid high.

For this, Meta will need the help of the bond market (a drop in long rates) or an improvement in the economic outlook. The former seems more likely as inflation should start to ease and the economic outlook should continue to deteriorate.

The deterioration in the economic outlook will at the same time put pressure on Meta, but normally less than on more cyclical stocks. After a semester of underperformance, the Meta share could therefore start to outperform values ​​such as Boeing, Caterpillar and JP Morgan over the coming months.

Meta stock price weekly chart – key levels


Leave a Comment