Meta Platform Threads To Get Another Update Inspired By Elon’s X

Meta Platform Threads To Get Another Update Inspired By Elon’s X

Meta Platforms is an American Company generally known as Meta. The company works in technology and internet software services. The current CEO of Meta is Mark Elliot Zuckerberg and Meta has more than 86K employees. The company has its headquarters in Menlo Park and was founded in the year 2004. Meta Platforms is listed on the NASDAQ exchange with the ticker name META.

Meta Platforms Inc. Stock Performance Analysis

The Meta Platoforms Inc. revenue has slightly declined from $117.93B to $116.61B following a decline in the net income of the company over the year. META has also shown a huge spike in debt from $14.45B in the year 2021 to $27.28B in the year 2022. Despite the company has shown some improvements in the Q2 2023 results reporting an advance of +16.5% in the net income of the company resulting in $7.79B year-on-year.

Performance Analysis of META Stock

Meta Platform Threads To Get Another Update Inspired By Elon’s X
Source: Tradingview

For the META stock, 47 analysts are giving a 1-year forecast expecting a target price of $435.00 and the lowest level that can be achieved is $100.00. Analysts are also giving a bullish rating on the stock as Meta Platforms Inc. has met the estimated target for revenue and EPS over the years.

META Stock Again Getting Ready To Hit New Highs!

Meta Platform Threads To Get Another Update Inspired By Elon’s X
Source : META: 1D: NASDAQ

META stock price is consistently following a higher high swing structure making new highs. This following behavior of the stock has formed a rising wedge pattern on the daily chart. The META stock recently hit the lows of the pattern and is again shooting up moving towards the higher levels. This advance in price can lead to the upper band of the channel pattern.

The EMAs for the META stock are trading in an uptrend. The price of the share is trading above the 50-day and 200-day EMA. The two of the EMAs are far ahead of each other which indicates the strength in the trend of the META stock.

META stock RSI is trading in an uptrend, consistently taking support on the 50-level. The RSI value has also crossed above the 14-day SMA. The following behavior of the RSI can take the market to higher levels in the upcoming days.


Meta Platforms Inc. has strong financials and has a very good PE ratio. The analysts are bullish on the stock recommending for a buy. The META share is trading inside a rising wedge pattern and has broken out above the consolidation zone. Indicators like the EMA and the RSI are also bullish on the charts indicating a buy signal.

Therefore, the share price of the META can advance to higher levels in the upcoming days and can hit the upper band of the wedge pattern.

Technical Levels

  • Support levels- $230.00 and $274.00
  • Resistance levels- $325.00 and $352.00

The information provided in this article, including the views and opinions expressed by the author or any individuals mentioned, is intended for informational purposes only. It is important to note that the article does not provide financial or investment advice. Investing or trading in cryptocurrency assets carries inherent risks and can result in financial loss.

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