Chart of the day

Where do we stand fundamentally?

Recently, at the Meta Connect 2024 conference, Meta announced significant updates across its AI and mixed reality platforms. Key highlights include the launch of the Meta Quest 3S, a more affordable mixed-reality headset, and enhanced AI capabilities, such as voice interactions on platforms like Messenger and Instagram. The new AI features also include photo editing and understanding, allowing users to interact more creatively with images and content​

META is breaking above the 550. This breakout of a bullish consolidation will open an extension higher to 650. Invalidation of this immediate upside extension could come upon a break below 520.

An invalidation level of a fifth-wave long-term extension higher and a bullish cycle is 350. As said this extension higher could lead to a 650 target in the medium-term to long-term if the META holds the gains above 550.

_{Try a long trade entry with a narrow stop loss below 550 to target 650 and higher.}