- Meta Platforms Inc. stock increased over 2.9% in today’s market session.
- The technical indicator summary suggests a buy signal for the META stock.
- The target price for the META in the upcoming year is $374.90.
Meta Platforms, Inc. focuses on creating social media applications and developing technology that facilitates connections, community-building, and business growth for individuals and enterprises. Meta Platforms Inc. (NASDAQ: META) stock is currently on an upward trajectory, displaying a pattern of higher highs.
The current trading price for META stock stands at $297.73, marking a 2.9% increase in today’s market session. The stock boasts an average trading volume of 26 Million. In 2022, Meta Platforms exceeded revenue expectations, reporting $116.61 Billion, as compared to the anticipated $116 Billion. This uptick in revenue indicates favorable financial performance.
META stock reached an all-time high of $381.70 in September 2021, after which it embarked on a substantial decline of nearly 76%. However, it found solid support at $88.90, leading to a remarkable recovery of over 250%. Presently, the stock is following an upward trajectory with resistance noted at $325.17. A breakthrough of this level could signify further price increases in the days ahead. According to analysts on TradingView, META’s target price for the upcoming year is approximately $374.90, reflecting a potential rise of 26.34%.
The technical indicator summary also gives a strong buy signal to the Meta Corporation. Out of the 26 indicators, most of them suggest a buying signal, which increases the probability of a price rise.
Meta Corporation (META) Stock Price Analysis
Technical Indicators Overview
The MACD indicator for the META stock shows a bullish signal with a green histogram. The MACD line is positioned above the signal line, implying potential price gains shortly. Furthermore, the Relative Strength Index (RSI) has entered the overbought territory, indicating a positive trend that may result in higher prices. The increasing trading volume for META stock, as indicated in the charts, suggests a growing interest from buyers and the formation of new positions.
Conclusion
The META stock is rising upwards. The price has given a huge recovery after a decline. The indicators are also positive for the stock and the technical summary suggests a buy signal. The overall pattern of the stock is positive and the price is expected to rise in the upcoming days.
Technical Levels
- Support Level: $282 and $219
- Resistance Level: $325 and $383
Disclaimer
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