$META
Added 2023-05-20 11:23:34 +0000 UTCThis is a chart I have been following for a long time now, it has bounced very well from the lows in November. I am showing the full structure here and it's fairly straight forward which Wave count this is in. There has been no Wave B bounce before the low in November and the bounce since then, has been looking like a perfect corrective wave bounce, 3 ABC waves are identified.
It is extended now slightly and this has been common for a few tech stocks lately but still valid. It can go as high as the $280 level, the 0.65 Fib in white and still be a valid Wave B bounce. I have set the 0.5 Fib as the bounce level as it is the middle of the Wave B bounce zone, the bounce could have been shorter and still be valid too.
Like a lot of tech stocks, they are performing well but for their impulse and corrective counts, both need to pull back if they want to go higher.
$META will not continue to go straight up without any meaningful pull backs.
The leaked information that $META will be releasing a Twitter alternative soon, coupled with positive enthusiasm in the market lately, is likely keeping this up....for now.
