American Stocks Analysis

Economies.com provides the latest technical analysis and forecast of the american stocks, in order to keep track of the trend of the US stocks.

Meta rallies - Analysis - 03-02-2023

Economies.com
2023-02-03 12:44PM UTC

Meta's stock rallied in the intraday levels after reporting forecast-beating earnings for the fourth quarter and announcing a $40 billion buy-back program, sending stocks up 23.28%, or 35.65 points in the last session and settling at 188.77, with trading volumes surpassing 150.4 million shares, above 10-day averages of 43 million shares. 

 

Technically, the upward correctional short-term trend dominates, with support from the 50-day SMA, coupled with positive signals from the RSI after venting off recent overbought saturation. 

 

Therefore we expect more gains for the stock, targeting the resistance of 236.86, provided the support of 153.19 holds on.

 

Expected trend for today: Bullish

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