Meta - A great example of Elliott wave

Our target for Meta is $420 by August.One would be able to see great volatility in its stock price and make significant profits by buying puts.

Impulse Wave (Downward Move): The first phase is an impulse wave to the downside. This could be triggered by various factors, such as negative news about the company, poor financial performance, or a broader market downturn. During this phase, the stock price might experience a significant decline from $480.

Correction Wave (Upward Move): Following the initial downward impulse, there's typically a corrective wave that retraces a portion of the previous downward move. This correction could result from profit-taking, short-covering, or a temporary shift in sentiment. The stock price may temporarily rise during this phase, but the overall trend remains bearish.

Impulse Wave (Continuation): After the correction, another impulse wave to the downside may occur, leading to a further decline in the stock price. This could be driven by persistent negative factors affecting the company or the market as a whole.