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Last Updated: Feb 17, 2025 04:17:34 PM (GMT)
META/USD: The current market price is 700.23, reflecting a 0.32% increase from the previous close.
Support and Resistance Levels The key support levels are 694.20, 687.50, and 680.00. The resistance levels are 705.00, 709.00, and 712.00, with a pivot point at 698.00.
Indicators The RSI is at 58.43, indicating bullish momentum, while the ADX is at 19.40, suggesting a strengthening trend. The ATR stands at 8.78, implying lower volatility. The 50-day SMA is at 711.07, with prices above, maintaining a bullish sentiment. The Parabolic SAR indicates upward movement.
Market Sentiment Given the current price is above the pivot point (698.00) and the indicators support a bullish trend, the outlook remains positive.
META has this year gone up by 50%. This is despite a tough 2022 and indicates it s a good time to consider the Facebook stock as a buy. However, note that the significant gains could be the result of the company's sharp drop in 2022. The aftermath rebound shows that the stock is on time this year to grow and pay off investors.
The general outlook for META is somewhat stagnant due to lagging advancement across VR/AR technologies. META seems highly invested in building the Metaverse, and could significantly rely on the mentioned technologies. While there seems to be an upward rebound trajectory, this is not enough information to conclude a bullish prediction. Again, it's not fair to dismiss the stock as bearish given its endurance through the tough 2022.
META's stock is influenced by both tech-industry force and company perfomance. In 2022, the tech industry slumped, however, META witnessed its stock fall below the tech-heavy NASDAQ 100 index. Advancement across the VR/AR industry is also likely to affect the price of Facebook stocks.
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