Today’s instrument is the Meta Platforms Inc.’s stock traded in Nasdaq exchange under the ticker FB.
When we look at FB’s chart, we can see that after the fall into the $290 during the past week, it managed to form support and set the stage for the surge that followed since then. During Monday’s session, there was an impressive intraday run, clearing the $307 level and closing well into the $313 price range. It was last found trading at $319 with the closest overhead resistance of $320 and the closest support level at $309.
Meta Platforms Inc. has scheduled a quarterly earnings announcement today 02/02/2022. If earning expectations are surpassed, we could expect the price to move upwards, towards the $330 price range.
Today we can expect a move towards the $320 resistance, possibly further into the $325 price range.
If however, it doesn’t manage to hold on to the current level then a move towards the $307 support can be expected.
(Click on image to enlarge)
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