Chart of the day

META is being rejected by the 500-520 zone. A rejection here can open a downside reversal and a pullback to 390 support. This will mean that the short-term five waves and long-term five waves are finished.

Only in the case of a break above 500, we can expect an upside continuation to a new high. A break below 450 will confirm this, and a break below 350 can lead to a complete downside reversal and would indicate that a medium-term top is in place.

_{Short trades could be opened here with a stop loss above 508. Long trades you can open upon a confirmed break above 510 with a stop loss above 409. You can trade this with options as well. For an options trading managed account reach out.}