Down to ~$530
By:TradingView
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Leave a comment if you agree or disagree.
I'm expecting this 100 week sma to break.
We've pressed on it multiple times already and META is showing relatively higher weakness than the other Mag7 stocks this morning.
The next support is the 150 week sma which coincides with the white trendline support.
This is a high confidence move and I am holding puts on META.
I will be closing them around that $530 mark, and think it's reasonable to expect a bounce from that level - even if it eventually fails to the downside.
Good luck everyone!
I'm expecting this 100 week sma to break.
We've pressed on it multiple times already and META is showing relatively higher weakness than the other Mag7 stocks this morning.
The next support is the 150 week sma which coincides with the white trendline support.
This is a high confidence move and I am holding puts on META.
I will be closing them around that $530 mark, and think it's reasonable to expect a bounce from that level - even if it eventually fails to the downside.
Good luck everyone!
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