Meta Platforms (META) is testing and so far holding its long-term rising support level, as well as attempting to bounce higher currently. It is a good trade setup, if you are confident that the AI trade will soon see a strong rotation back into those stocks.
If that is the case, META will have a good chance to benefit. But until there’s a bounce that gets underway in the AI trade, it will be difficult to trust the bounce that we are seeing so far out of META.
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