Meta Platforms may fall to 514.00 - 526.00

Our pivot point is at 601.

Our preference

Target 526.

Alternative scenario

The upside breakout of 601 would call for 623 and 635.

Comment

The RSI is below 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the stock is trading under its 20 day moving average (580.2665) but above its 50 day moving average (549.6355).

Supports and resistances

635 **

623 *

601 **

593

563.69 (USD-last)

538

526 **

514 *

502 **

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