Meta poised for another breakout, according to the charts

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Meta poised for another breakout, according to the charts

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Reels has made sharing among users increasingly popular. Further, with Apple finally entering the AI arena, this all but confirms the AI buildout is officially underway, with a long way to run. Analysts are expecting Meta to grow earnings by 14% for the next two years and revenues by about 12%. In 2025, the consensus EPS is $22.90 giving Meta an index-level forward valuation of 22.8 times earnings. What the charts say Turning back to the technicals, the daily chart is showing a strong move higher following the gap down in Q1 earnings from $493. Following that gap closure, the stock is contemplating a break through the final Fibonacci retracement of the April decline at $504. If the stock continues higher, then we see a move back to the all-time highs at $531.49, and then up to the first extension level around $568. If we fail at this breakout around $504 then the idea for this short-term rally higher is void. However, I still very much like the stock in the longer investment horizon, holding a 7% allocation in my Tactical Alpha Growth portfolio, the 3rd largest holding, and a 1.50% position in my Strategic Income and Growth portfolio that was added on Feb 2nd when the company started paying a dividend. -Todd Gordon, founder of Inside Edge Capital, LLC DISCLOSURES: (Gordon owns META personally and in his wealth management company Inside Edge Capital Management, LLC Charts.) THE ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY . THIS CONTENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSITUTE FINANCIAL, INVESTMENT, TAX OR LEGAL ADVICE OR A RECOMMENDATION TO BUY ANY SECURITY OR OTHER FINANCIAL ASSET. THE CONTENT IS GENERAL IN NATURE AND DOES NOT REFLECT ANY INDIVIDUAL’S UNIQUE PERSONAL CIRCUMSTANCES. THE ABOVE CONTENT MIGHT NOT BE SUITABLE FOR YOUR PARTICULAR CIRCUMSTANCES. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR. Click here for the full disclaimer.

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Breaking News: Markets,Markets,Meta Platforms Inc,business news
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