Meta Platforms: Wave E Of Bullish Running Triangle May Be Entering Final Stages

Meta Platforms’ (META) recent price action following the rebound from the 530 area continues to support the interpretation of a developing bullish running triangle. The structure remains corrective in nature, but price behavior suggests that the pattern may now be approaching its final phase, with Wave E potentially in its late stages.

Within a running triangle, the market typically unfolds through a five-wave A-B-C-D-E sequence, characterized by overlapping swings and diminishing momentum as the structure matures. In this case, Wave D appears to have completed near the 700 area, coinciding with a rejection following earnings. Since then, price has rotated lower, leaving behind an unfilled gap around the 670 region.

This gap may act as a short-term magnet if Wave E continues to extend slightly lower before completion. However, as is typical in late-stage triangle structures, downside progress is often limited and increasingly choppy, reflecting the exhaustion of the corrective phase rather than the start of a new impulsive trend.

The key area of interest remains the 530–580 support zone, which aligns with the projected termination area for Wave E. As long as this zone holds, the broader bullish structure remains intact, and the completion of the triangle would likely set the stage for a new impulsive leg higher.

From a trading perspective, patience is warranted until confirmation of Wave E completion is observed. Premature positioning within the final stages of a triangle can often result in false breaks or extended sideways consolidation.

Once the full A-B-C-D-E structure is completed, the probability increases for a clearer directional move, with upside continuation becoming the more likely scenario provided key support levels remain respected.

Key Points

• Running triangle remains valid within a broader bullish structure.

• Wave D likely completed near the 700 area after earnings reaction.

• Wave E may be in its final stages with support projected in the 530–580 zone.

• Open gap near 670 remains a short-term price magnet.

• Completion of Wave E would likely precede a stronger bullish impulse phase.