Meta Platforms (META) Shares Test Crucial Support Zone
Throughout November, Meta Platforms (META) shares have come under sustained tradeing pressure later than the company’s latest quarterly results revealed a one-off income tax charge of $15.93 billion.
Market sentiment has also been dampened by guidance pointing to capital expenditures of $70–72 billion in 2025, earmarked for new data centre construction and AI chip procurement. Yet, with the stock now down over 20% from its autumn high, conditions may be ripening for a technical rebound.
META Technical Overview
A descending channel identified on 31 October (marked in red) continues to define the broader downtrend. At present, the price has dropped into a cluster of key support levels, including:
→ the lower boundary of the channel;
→ the psychological $600 mark;
→ and the May gap zone, which previously acted as a bullish trigger.
Momentum indicators also signal growing tension — the RSI hovers near oversold territory, and a potential false break below $600 could establish a bullish divergence.
Taken together, these factors suggest that:
→ the post-earnings trade-off may have already absorbed most of the negative sentiment;
→ and that purchaviewrs could soon attempt to defend the support area, potentially reigniting the broader upward trend.
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