Why $Meta Platforms, Inc.(META)$ stock is looking bullish and targeting $700
1) Horizontal Resistance Flips to Support
META has been testing a key resistance level around $600-$615 for months, as shown in the chart. After multiple failed attempts, it finally broke out and is now retesting this zone as new support. Classic support-resistance flip!
2) Bullish Breakout Confirmed
The recent price action confirms that buyers have taken control. This breakout is a strong bullish signal, especially since the stock is holding above the $600-$615 level. Retests like this often precede strong moves upward.
3) TikTok Ban as a Catalyst
With TikTok facing potential bans due to regulatory scrutiny, Meta is positioned to benefit BIG. Advertisers may shift their budgets to platforms like Instagram & Facebook, boosting Meta's ad revenue and long-term growth.
4) Targeting $700
The breakout above $615 opens the door for the next major level: $700. This is both a psychological and technical target for the stock. If momentum and external catalysts like the TikTok ban align, $META could easily reach this level soon.
5) Conclusion
META is showing strength both technically and fundamentally. A key support-resistance flip + strong external growth catalysts = bullish outlook. Watch for $600-$615 to hold as support and $700 as the next target!
What’s your take? Are you bullish on META?
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