Meta Platforms may rise to 619.00 - 631.00

Our pivot point stands at 553.

Our preference

The upside prevails as long as 553 is support.

Alternative scenario

Below 553, expect 534 and 523.

Comment

The RSI is above 70. It could mean either that the stock is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 546.7738 and 523.1065).

Supports and resistances

643 **

631 *

619 **

607

582.61 (USD-last)

561

553 **

534 *

523 **

Number of asterisks represents the strength of support and resistance levels.