What exactly is meant by the term "technical analysis," and how exactly does it have an impact on Meta Stock?

Let's begin by defining "technical analysis" and discussing how it relates to this discussion before moving on to particular methods for assessing and trading Meta sock. Technical analysis is the process of forecasting future price changes by analyzing current prices in relation to historical market data, particularly price and behavior. It is based on the assumption that changes in price follow trends and patterns that can be recognized and used to one's advantage in order to engage in profitable transactions. In addition, buyers and sellers may choose to act once more at crucial price levels (for example, if they "bought low" in the past, and thought it was a good idea, and price gets close to that price again, they may decide to reload, protecting their position and adding to it).

The above is a basic explanation of the idea that is presented in the technical analysis video for META: We are hoping to catch some "fills" to purchase orders that are lying below the current price but above the lows of the previous couple of years, so we have spread a net of five buys across the market in the belief that we are still ranging within a large bullish reversal pattern in the monthly timeframe. Additionally, we believe that this pattern is occurring within the context of the monthly timeframe.

Average entry, stop and take profit targets for buying META stock next

The entry price for the Long position is calculated to be 139.17 if 20% of the budget for the Long position is spent on each of these lines. Your profit target would be 233.61, and your stop loss would be at 91.84, which is the level that is immediately below the openings and closings of the monthly candle. Although the majority of buy-and-holders do have stops in place, there are some long-term buyers who may not have any at all.

META stock may reach $275 by the end of 2024

Previous consilidation printed a PoC (point of control) on the market profile of that range, which can be seen in the video that was just referenced, so it is not completely out of the question that Meta stock will make another attempt to test the $275 mark before the end of year 2024.

You do it at your own peril when you trade META. In my opinion, the situation is looking quite promising, and the primary focus of this section was on where to buy and how to put up your long position.

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