$META
Added 2023-09-29 11:58:46 +0000 UTC$META released a new product this week, augmented Sunglasses that effectively work as an AI Bot on the glass screen, I watched the presentation from Zuckerberg and I was definitely impressed and I think they are at a competitive price too at around $300.
That being said, the chart here makes me uneasy, the climb from $90 to $326 has had no meaningful pull backs, apart from the A - B amber pull back at the start of the year which was almost insignificant and very typical of a corrective wave.
We do not see these movements without a balance and that balance is a pull back.
The pull back may have started already as this has moved down from $326 and is making lower lows and lower highs....although still holding up well so far.
But let's be honest here, Metaverse has not worked out and it has cost $META billions and we are not sure if it is completed canned yet but there has been little or no talk about it and they have pushed through with other products since.....Threads has also not worked out for $META and this was supposed to be a big win for $META too....both of these products could still work out in the future but in the short term and relevant to this chart, they could still effect this chart to the downside over the next few months.
$META is the one Mega Cap I would not be touching.....especially when there is so much value on the table with their other Mega Caps right now.
