META Buy signal within the Falling Wedge.

29. Sept. 2022

The Meta Platforms (META) have been trading within a Falling Wedge pattern since the April 05 High. After that we've had two Lower Lows and two Lower Highs. On Tuesday the stock came to its closest to the Lower Lows trend-line since June 23. As the 1D RSI breached the 30.000 oversold barrier, we have a strong short-term buy signal in our hands, targeting the 1D MA50 (blue trend-line) and the top of the Falling Wedge.

* A break above the 1D MA100 (green trend-line), which has been untouched since December 30 2021, can extend the uptrend on the medium-term towards the 1D MA200 (orange trend-line).
* A break above the 1D MA200, which has been untouched since January 06 2022, can be enough to restore the bullish trend on the long-term.
* A break below the Falling Wedge, can accelerate the selling targeting the 1.5 Fibonacci extension.


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