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Meta Platforms Inc. Technical Analysis - Meta Platforms Inc. Trading: 2024-10-23
Facebook (Meta Platforms Inc.) Technical Analysis Summary
Below 569.05
Sell Stop
Above 597.09
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Neutral |
| Donchian Channel | Neutral |
| MA(200) | Buy |
| Fractals | Sell |
| Parabolic SAR | Sell |
Facebook (Meta Platforms Inc.) Chart Analysis
Facebook (Meta Platforms Inc.) Technical Analysis
The technical analysis of the Facebook stock price chart on daily timeframe shows #S-FB,Daily is retracing down toward the 200-day moving average MA(200) after hitting all-time high two weeks ago. We believe the bearish momentum will continue after the price breaches below the lower boundary of Donchian channel at 569.05. This level can be used as an entry point for placing a pending order to sell. The stop loss can be placed above 597.09. After placing the order, the stop loss is to be moved every day to the next fractal high, following Parabolic indicator signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level (597.09) without reaching the order (569.05), we recommend cancelling the order: the market has undergone internal changes which were not taken into account.
Fundamental Analysis of Stocks - Facebook (Meta Platforms Inc.)
Facebook’s stock closed up yesterday after US court dismissed a lawsuit against Meta Platforms and Chief Executive Mark Zuckerberg claiming they misled shareholders in Meta's proxy statement about their ability to ensure the safety of children who use Facebook and Instagram. Will the Facebook stock price continue advancing?
Stock of Meta Platforms, Inc., the Facebook parent, ended higher on Tuesday after U.S. District Judge Charles Breyer in San Francisco dismissed the lawsuit saying the plaintiff Matt Eisner failed to show that shareholders suffered economic losses from Meta's alleged inadequate disclosures. The judge also said federal securities law did not require Meta to detail the severity of sexually explicit content and sexual exploitation of children on its platforms, or all the child protection strategies it decided not to adopt. The dismissal was with prejudice, meaning Eisner cannot sue Meta and Zuckerberg again. Dismissal of a lawsuit against a company is bullish for the company stock price. However, Meta still faces lawsuits by dozens of state attorneys general accusing the company of addicting children to its apps while downplaying the risks.
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