Meta stock (META) could soon recover

The meta stock may soon rebound as low as $ 225

Shares in social media giant Meta, aka Facebook, may soon start a rebound according to technical analysis. However, the META title will have to be able to emerge from the top of the falling wedge in which it has evolved since the beginning of spring. Such an exit would invite a bullish outlook at least until the March high of around $ 225, which corresponds in particular to the previous pre-covid high.

For this Meta will need the help of the bond market (a decline in long rates) or an improvement in the economic outlook. The former seems more likely as inflation should start to ease and the economic outlook should continue to deteriorate.

The deteriorating economic outlook will put pressure on Meta at the same time, but usually less than on more cyclical stocks. After a half-year of underperformance, Meta stock could therefore begin to outperform stocks such as Boeing, Caterpillar and JP Morgan in the coming months.

Meta Stock Price Weekly Chart – Key Levels

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