Meta Platforms, Inc. : Strong bearish signal
By Pierre Gilles de la Londe
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
$73.6 | $0 | $76.38 | +100% |
Regarding fundamentals, Facebook has been recently downgraded by analysts concerning the expected EPS for 2014 and 2015. This situation often result by a price decrease.
From a technical viewpoint shares were supported by a strong upward trend, but it has been recently brokedown. This kind of signal is often a strong one and that's why we can expect the beginning of an downward movement. Moreover the 20-day moving average has recently crossed the 50-day moving average which legitimate a downward potential. The first target will be the short term pivot point at USD 68.05.
Active investors can open a short position at current price and target the short term pivot point at USD 68.05. A stop loss should be placed below the USD 76 area.