Let's Take Off the VR Headsets Ahead of Meta's Earnings - RealMoney

1 year ago 50

The banal has made a large beforehand up of the report.

Feb 01, 2023 | 11:39 AM EST

Stocks quotes successful this article: META

Meta Platforms ( META) , formerly known arsenic Facebook, is scheduled to archer anxious shareholders and calm analysts their latest quarterly numbers aft the adjacent of trading Wednesday. The banal has made an awesome beforehand from aboriginal November but possibly the emergence has resulted successful is\t being "over its skis."

Let's cheque retired the charts.

In the regular barroom illustration of META, below, I tin spot however shares of META person precocious and rallied to the underside of the declining 200-day moving mean line. The trading measurement has decreased from the activity level of aboriginal November and the On-Balance-Volume (OBV) enactment shows a dilatory crawl higher from aboriginal November.

The Moving Average Convergence Divergence (MACD) oscillator is successful a bullish inclination supra the zero line.

In the play Japanese candlestick illustration of META, below, I spot a mixed picture. The shares person suffered a large diminution from the highs of 2021. Prices made a precocious measurement debased successful October and a consequent betterment rally. META is investigating the declining 40-week moving mean line.

Trading measurement has declined and the play OBV enactment has lone responded successful January. The trend-following MACD oscillator is inactive beneath the zero enactment successful merchantability territory.

In this regular Point and Figure illustration of META, below, the bundle projects an upside terms people successful the $156 area.

In this play Point and Figure illustration of META, below, a $154 terms people is shown.

Bottom-line strategy: META has made a large beforehand up of net but trading measurement has not expanded and the Point and Figure charts bash not suggest overmuch much connected the upside. If traders person caller agelong positions at a nett they should astir apt drawback those gains and basal speech astatine this juncture successful time.

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