JohnMitchell
06-16 01:59

I've been seeing a lot of people calling this move "over" or saying $Meta Platforms, Inc.(META)$  is breaking down long term… but I just don't see it that way.

From my perspective, this still looks like a long consolidation inside an ascending triangle that's been building for close to 2 years.

And honestly, the longer these structures take to build, the more forceful they can be when they finally resolve.

If momentum comes back in, $800 is the obvious level everyone will be watching.

Why I care?

Because markets tend to wear people out in exactly these kinds of setups… long compression, mixed signals, then a sudden expansion when positioning gets too one-sided.

Not saying it breaks up immediately, just saying the structure is still intact.

Bookmarking this one and letting it play out.

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