META Consolidates Near Resistance! What’s Next for Bulls?
Technical Analysis Overview:
1-Hour Chart:
* Trend: META is consolidating near $610 after rebounding from $588 support.
* Indicators:
* MACD: Displays bearish momentum, with a potential signal line crossover.
* Stochastic RSI: Overbought, suggesting a possible short-term pullback.
30-Minute Chart:
* Price Action:
* META faces resistance at $615, with immediate support near $600.
* A symmetrical triangle pattern hints at a potential breakout or breakdown depending on momentum.
Key Levels to Watch:
Support Levels:
* $600: Immediate support zone, marked by the HVL.
* $595: Strong PUT support (-4.64% GEX).
* $587.5: 2nd PUT Wall support (-2.31% GEX).
Resistance Levels:
* $615: Key resistance level and 2nd CALL Wall.
* $625: Next resistance, aligning with GEX10.
* $630-$634: Major resistance zone, including the highest positive NETGEX.
GEX Insights:
Key Gamma Levels:
* Positive Gamma Walls (Resistance):
* $615: 29.87% GEX (2nd CALL Wall).
* $625: 25.43% GEX (GEX10).
* $634: Highest positive NETGEX and CALL resistance.
* Negative Gamma Levels (Support):
* $595: Key PUT support (-4.64% GEX).
* $587.5: Significant PUT Wall (-2.31% GEX).
Options Metrics:
* IVR: 52.5, indicating moderate implied volatility.
* IVx: 45.1, near average levels.
* Call/Put Bias: Calls dominate at 29.3%, reflecting bullish sentiment.
Trade Scenarios:
Bullish Scenario:
* Entry: Above $615 with strong volume.
* Target: $625-$630.
* Stop-Loss: Below $600 to manage risk.
Bearish Scenario:
* Entry: Rejection at $615 or breakdown below $600.
* Target: $595-$587.5.
* Stop-Loss: Above $620 to limit losses.
Directional Bias:
* META’s consolidation near $610 suggests a pause before the next move. A breakout above $615 could signal bullish continuation, while failure to hold $600 may lead to a retest of lower levels.
Conclusion:
META is trading near a critical resistance zone at $615. Bulls need strong momentum to push toward $625-$630, while bears will aim to defend this level. Watch for volume confirmation and key gamma levels for actionable setups.
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always conduct your research and trade responsibly.
1-Hour Chart:
* Trend: META is consolidating near $610 after rebounding from $588 support.
* Indicators:
* MACD: Displays bearish momentum, with a potential signal line crossover.
* Stochastic RSI: Overbought, suggesting a possible short-term pullback.
30-Minute Chart:
* Price Action:
* META faces resistance at $615, with immediate support near $600.
* A symmetrical triangle pattern hints at a potential breakout or breakdown depending on momentum.
Key Levels to Watch:
Support Levels:
* $600: Immediate support zone, marked by the HVL.
* $595: Strong PUT support (-4.64% GEX).
* $587.5: 2nd PUT Wall support (-2.31% GEX).
Resistance Levels:
* $615: Key resistance level and 2nd CALL Wall.
* $625: Next resistance, aligning with GEX10.
* $630-$634: Major resistance zone, including the highest positive NETGEX.
GEX Insights:
Key Gamma Levels:
* Positive Gamma Walls (Resistance):
* $615: 29.87% GEX (2nd CALL Wall).
* $625: 25.43% GEX (GEX10).
* $634: Highest positive NETGEX and CALL resistance.
* Negative Gamma Levels (Support):
* $595: Key PUT support (-4.64% GEX).
* $587.5: Significant PUT Wall (-2.31% GEX).
Options Metrics:
* IVR: 52.5, indicating moderate implied volatility.
* IVx: 45.1, near average levels.
* Call/Put Bias: Calls dominate at 29.3%, reflecting bullish sentiment.
Trade Scenarios:
Bullish Scenario:
* Entry: Above $615 with strong volume.
* Target: $625-$630.
* Stop-Loss: Below $600 to manage risk.
Bearish Scenario:
* Entry: Rejection at $615 or breakdown below $600.
* Target: $595-$587.5.
* Stop-Loss: Above $620 to limit losses.
Directional Bias:
* META’s consolidation near $610 suggests a pause before the next move. A breakout above $615 could signal bullish continuation, while failure to hold $600 may lead to a retest of lower levels.
Conclusion:
META is trading near a critical resistance zone at $615. Bulls need strong momentum to push toward $625-$630, while bears will aim to defend this level. Watch for volume confirmation and key gamma levels for actionable setups.
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always conduct your research and trade responsibly.
Disclaimer
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