$META
Added 2025-04-18 11:39:44 +0000 UTC$META's bounce since the 0.38 Fib at $490 on the 7th of April jumped all the way up to the 200 Day MA at $580 and has rejected heavily at this MA and has pulled back aggressively.
A lower low has not been made yet but a retest of the 0.38 Fib at $490 is possible next and with the weakness shown here, I would expect a lower low to come in next to complete Wave A, a drop down to the 0.5 Fib at $413 is possible to complete Wave A next before a relief bounce for Wave B.
This week we are seeing a lot of weakness and a lot of this has stemmed from the ongoing Tariff War and both countries (US and China) continuing their counter-meausres.
I believe a deal needs to be reached before the Mega Caps start reporting during this earnings season or the market will react badly.
Comments
There’s also the META antitrust/monopoly hearings. Although unlikely, the potential for them to have to sell Instagram and WhatsApp is prob in people’s minds for the moment - they’re also under pressure for expanding Oculus for example, into china without proper permissions?
Charlie
2025-04-18 15:50:37 +0000 UTC
