Interesting Technical Analysis finding for META PLATFORMS INC-CLASS A (NASDAQ:META)

META PLATFORMS INC-CLASS A (NASDAQ:META) has been identified as a Technical Breakout Setup Pattern by our stock screener. This pattern typically occurs when a stock takes a pause after a significant rise, indicating the possibility of a continuation in the trend. While it's impossible to predict with certainty, it might be beneficial to monitor NASDAQ:META.

Technical analysis of NASDAQ:META

ChartMill utilizes a proprietary algorithm to assign a Technical Rating to every stock. This rating, ranging from 0 to 10, is computed daily by analyzing a variety of technical indicators and properties.

We assign a technical rating of 8 out of 10 to META. Both in the recent history as in the last year, META has proven to be a steady performer, scoring decent points in every aspect analyzed.

• The long and short term trends are both positive. This is looking good!
• Looking at the yearly performance, META did better than 97% of all other stocks. We also observe that the gains produced by META over the past year are nicely spread over this period.
• META is part of the Interactive Media & Services industry. There are 73 other stocks in this industry. META outperforms 97% of them.
• META is currently trading near its 52 week high, which is a good sign. The S&P500 Index is trading in the upper part of its 52 week range, but not near new highs, so META is leading the market.
• In the last month META has a been trading in the 274.38 - 309.04 range, which is quite wide. It is currently trading near the high of this range.

Our latest full technical report of META contains the most current technical analsysis.

How does the Setup look for NASDAQ:META

ChartMill also assign a Setup Rating to every stock. With this score it is determined to what extend the stock has been trading in a range in the recent days and weeks. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. NASDAQ:META scores a 8 out of 10:

META has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. There is very little resistance above the current price. There is a support zone below the current price at 301.22, a Stop Loss order could be placed below this zone.

Trading breakout setups.

One way to play this would be to wait for the actual breakout to happen and buy when the stock breaks out above the current consolidation zone. A possible place for a stop loss would be below this zone.

Of course, there are many ways to trade or not trade NASDAQ:META and this article should in no way be interpreted as trading advice. The article is purely based on an automated technical analysis and just points out the technical observations. Always make your own analysis and trade at your own responsibility.

More breakout setups can be found in our Breakout screener.

Disclaimer

This article should in no way be interpreted as advice in any way. The article is based on the observed metrics at the time of writing, but you should always make your own analysis and trade or invest at your own responsibility.