Stock of the day: Facebook

In today’s stock of the day, let’s focus on Meta Platforms (Facebook), which is showing a promising bullish setup. The recent movements suggest that the stock is positioned for a potential upswing.

The price has bounced off a long-term uptrend line, marked with black on the chart. This line has been a reliable support area for the stock during the second half of the year, reinforcing its significance. Additionally, the price has reclaimed the green horizontal support, which has acted as a critical level in recent months. This dual support structure—a combination of the uptrend line and the horizontal level—gives buyers a solid base to build momentum.

With the price trading above these two key areas, sentiment remains positive, offering a clear buy signal. The setup suggests that as long as the price stays above these levels, buyers are in control, and further upside can be expected.

However, any sustained breakout below the black uptrend line and the green horizontal support would invalidate the bullish outlook and trigger a sell signal. That said, given the current technical setup and broader market sentiment, the likelihood of such a bearish scenario seems limited for now.

Source: https://www.axiory.com/analytics/stock-of-the-day/stock-of-the-day-facebook-3