This upward trajectory within Wave (5) suggests that the bullish trend is firmly intact, and the stock is likely to experience further gains as it approaches the $650 target. Traders should look for key resistance levels near $650 to assess the potential for a corrective wave following this strong upward move.

Meta Platforms Inc.,(META) 1H Chart

META Elliott Wave technical analysis

Function: Trend.

Mode: Impulsive.

Structure: Motive.

Position: Minor 3 of (5).

Direction: Upside within wave 3.

Details: Looking for a subdivision within wave 3 as we seem to be continuing higher in wave {v} of 3.

This Elliott Wave analysis for Meta Platforms Inc. (META) examines both the daily and 1-hour charts, offering insights into the stock's current price structure and potential future moves.

META Elliott Wave technical analysis – One-hour chart

On the 1-hour chart, Meta Platforms is advancing within Minor Wave 3 of (5). The current structure shows ongoing upside momentum, with further subdivision occurring within Wave {v} of 3. This suggests that the stock is in the later stages of Wave 3, but there is still room for additional upside as Wave {v} unfolds.

As the price progresses, traders should watch for signs of exhaustion in Wave 3, which could indicate a pullback or correction before the next wave sequence begins.

Meta Platforms Inc. Elliott Wave technical analysis [Video]

Author

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

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