The META Report: Buying Zuckerberg

Following its final round of massive layoffs at the end of May this year to trim off the fat, META now trades back at its Nov 2021 support at $$305.00s that saw it slide to 2022 lows circa $88.00 once it broke early 2022. So far, Mark’s vision of where the company is headed & steadfastness of doing what needs to be done has been fruitful to its stock price.?

Technicals: Support TL from the lows of 2022 remain as key support going forward with price points circa $300 being an inflection area. A break of this STL might bring us to revisit the double bottom made in September & October of 2020 that was broken through at the end of January 2022. It goes to show how the $250 mark ($244.642) to be exact.?

The Rate Picture: From a macro standpoint, even if the Fed does not come storming out the gates with an announcement of a rate cut that will super fuel flows into big tech names – inflation, as the Fed celebrates post CPI release yesterday have somewhat been managed and further hikes seem, in the short to medium term a highly unlikely affair.?

To conclude: META may very soon be back on the list of investor darlings.?

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