Buy Signal on Meta Amid Oversold Conditions

2 months ago

"Let's go and look at the top 10 NASDAQ most oversold stocks. This is RSI, relative strength index. What I want you to do is go through these top 10 and tell me which one you think is actually oversold. They're all oversold, but which one has upside? There's one clear winner for me and it's Meta. Okay. And Trendpider points out, find your diamond in the rough. Meta. They just did trailing PE of 23. It's as low as it's been and yet the stock price is as high as it's been. That means it's cheaper today than it was in July of 2023 where it was trading at $300. It's cheaper today than it was in 20 and yes, it's at $600. Now, you need to find a strategy. My strategy has been I've got an alert right now. When the 4hour algorithm tells me to get, it told me to get out here. Instead, I bought. I thought this was a dip."

The speaker identifies Meta as the clear winner among oversold NASDAQ stocks, noting its trailing PE of 23 in a high price environment. They mention that the stock is trading cheaper compared to previous levels and that their 4-hour algorithm generated a buy alert, prompting them to purchase at what they consider a dip.

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