META is under pressure. Expect one last dip.

27 בספט׳ 2023

META is trading around the MA50 (1d) since the Sep 14th Lower High and seems to be acting as a Resistance.
The long term trend is heavily bullish on a Rising Support and best depicted by the application of the Fibonacci Channel.
However a Channel Down is emerging and as long as the Lower High holds, we expect one final dip to gather new long term buyers.

Trading Plan:
1. Sell if the MA100 (1d) breaks.
2. Buy at 265 (Rising Support).

Targets:
1. 265 (Rising Support).
2. 385.50 (All Time High, under the 1.5 Fibonacci extension).

Tips:
1. The most ideal sell target and obviously buy entry will be preferably if the RSI (1d) hits the 30.00 oversold level.

Please like, follow and comment!!

Notes:
Past trading plan: