Meta Platforms Inc. (META): Long-Term Elliott Wave Perspective🚨 Disclaimer: This is for educational purposes only. Not financial advice. Always consult a financial professional before investing.
Elliott Wave Breakdown
Macro Structure:
- Meta is in a right-side bullish cycle, showcasing an impulsive Elliott Wave structure on the weekly chart.
- The chart highlights a completed Wave III with a potential corrective structure (Wave IV) underway.
Current Position:
- Price: $585.51
- Wave III reached its peak, completing a five-wave structure.
- Meta is in the early stages of forming an ABC corrective wave as part of Wave IV.
Wave IV Correction:
- Wave IV is expected to retrace to the $480–$520 zone, forming an ABC corrective structure.
- Post-correction, Wave V should lead to new highs.
Invalidation Level:
- The invalidation level for the bullish structure is $87.75. Falling below this level would negate the current wave count.
Key Levels to Watch
Support Zones:
- $520: Key retracement level for Wave IV.
- $480: Deeper correction support.
Resistance Zones:
- $650: Immediate resistance zone.
- $720+: Target zone for Wave V.
Technical Indicators
Fibonacci Retracement Levels:
- 38.2% retracement: $520
- 50% retracement: $480
Wave V Targets:
- Fibonacci extensions project Wave V beyond $700, possibly reaching $840 in an extended bull run.
Strategy Suggestions
Long-Term Investors:
- Buy Zone: $480–$520 during the Wave IV correction phase.
- Long-term targets suggest significant upside potential as Meta heads toward Wave V.
Macro Catalysts to Monitor
- Earnings Growth: Meta’s revenue from ads and metaverse investments will play a significant role in driving momentum.
- Sector Sentiment: Growth in the tech sector will directly impact Meta’s performance.
- Market Conditions: Federal Reserve policy, interest rates, and broader economic conditions will shape the price trajectory.
Conclusion
Meta remains a strong long-term bullish candidate with a clear Elliott Wave structure. While a corrective Wave IV pullback is expected, it offers a great buying opportunity for those targeting the next impulsive rally into Wave V.
💡 How are you trading Meta? Share your insights or ask questions below! 🚀
