Meta Set to Rebound as Government Reopens

2 months ago

Corey

"So my take on Meta is the moment that the government opens up, the stock is going to move. So what's going to happen here when you see this, we're getting lower lows and lower highs. Okay, this is a downtrend. But when you draw these two lines like this downtrend, it broke out right here, which was a break of structure and another break of structure right here. And now it's making higher lows and higher highs. So you're seeing that this structure has completely broke. The break of structure has happened. As you guys can see right there, break a structure, new support. The government reopens, the stock is likely to go into the 640 650 range by end of week. If you're in November 21st calls or end of November calls or December, they're likely to recover."

The speaker outlines a clear technical trade call for Meta, emphasizing that with the imminent government reopening the current downtrend will likely reverse. The analysis includes a break of structure and formation of new support, triggering a potential rebound into the 640-650 range by the end of the week. This presents a short-term opportunity for a trade, especially for option strategies targeting the near-term recovery.

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