- Meta Platforms Inc.’s META stock has moved over 250% after hitting the swing low.
- This stock’s target price for the upcoming year is $369.54.
Meta Platforms, Inc. is involved in creating products that facilitate connections and sharing among individuals via mobile devices, personal computers, virtual reality headsets, and wearables on a global scale.
Meta Platforms Inc. (NASDAQ: META) stock is moving in an uptrend direction. The price is forming a higher-high pattern.
The META stock is currently trading at $305.07, with a rise of 0.83% in today’s market session. The price is increased by $2.52.
Meta Platforms, Inc.’s EBITDA has a substantial YoY increase of 41.9%. The current EBITDA for Q2 2023 stands at $14.6 Billion. Furthermore, the company’s net income has grown this quarter, signifying positive development.
The META stock made an all-time high of $381.7 in September 2021 and immediately after this, the price started declining. The price fell by almost 76%. It was one of the major falls faced by the stock. However, the price found support at the $88.9 level and the price rebounded from there. They gave a recovery of more than 250% since then.
Currently, the price is moving in an uptrend with the resistance of $05.17. If the price breaks above the level, the price is likely to rise in the upcoming days.
As per the analyst rating by the trading view, the target price for the EMTA is expected to be around $369 in the upcoming year with a rise of 21.13%.
Corporation (META) Stock Price Analysis
aa by writer50_tcr on TradingView.com
Technical Indicators Overview
The present trading scenario for META stock indicates that it is trading above both the 50-day and 100-day EMAs. Moreover, there is a bullish crossover happening between these EMAs, which is consider a favorable signal.
Additionally, the Relative Strength Index (RSI) line has entered the overbought zone and is currently residing in that area. It is a positive development and suggests a potential price increase in the future.
The volume of META stock is on the rise, as evidenced by the charts. This uptick in volume indicates active buyer participation and the establishment of new positions.
Conclusion
In conclusion, META stock is moving in an uptrend momentum. The price has rebounded over 250% after the fall. The indicators are positive and earnings of the stock are also increasing. The META stock price is likely to rise in the upcoming days.
Technical Levels
Support Level: $43
Resistance Level: $72.17
Disclaimer
The views and opinions of the author or anyone in this article are for informational purposes only. They do not offer financial, investment, or other advice. Investing in or trading crypto assets involves the risk of financial loss.