Meta Platforms: Buying the Dip Despite Technical Headwinds

2 months ago

Speaker

"Next up is Meta Platforms with a ticker meta. The stock just dropped 11% after earnings, which was its worst day in 3 years. Despite the technical damage with the RSI at 27 and MACD showing strong bearish momentum, I actually bought a fair amount because it's a long-term play for me. I think the market overreacted to the AI spending news, and with Meta's solid fundamentals and dominant market position, there's potential for a 32% upside over the next 12 months."

The speaker explains his rationale for buying Meta Platforms despite the recent technical decline after earnings. Emphasizing strong fundamentals and an anticipated recovery from an overreaction in the market, he views the current dip as a long-term buying opportunity.

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