Meta Platforms may rise to 632.00 - 645.00

Our pivot point is at 565.

Our preference

The upside prevails as long as 565 is support.

Alternative scenario

The downside breakout of 565 would call for 544 and 532.

Comment

The RSI is trading above 70. This could mean that either the stock is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 563.9038 and 533.4319).

Supports and resistances

657 **

645 *

632 **

620

590.51 (USD-last)

573

565 **

544 *

532 **

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