FBSAnalytics

Facebook: Rally is expected after a tiny correction

NASDAQ:META   Meta Platforms
1st buy zone: $330
2nd buy zone: $300

Target: $470


Facebook is moving in the rising channel. It broke through the median line and heads toward the bottom one as the price corrects after it got rejected from the 1 Fibonacci Extention level ($384).
At the moment it is in the 4th wave of Elliot Wave Theory, which will be finished at either $330 or $300 level.

The target for wave 5 is $470.

As yesterday the price met 0.786 Fibonacci level and today (28.09) the as S&P500 feels bad we await the price to get rejected from this level and move towards $330.

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