Solid News

Meta Platforms Inc Trading in a Global Downtrend

1/26/2023 3:01 PM

The stocks of Meta Platforms Inc., an American multinational holding company that owns a technology conglomerate and the largest social network Facebook, are moving in a corrective trend around the 141.00 mark.

Earlier, analysts at Morgan Stanley financial holding adjusted forecasts for the issuer's shares to 130.0 dollars from 100.0 dollars earlier, referring to the fact that the company announced an increase in investments in infrastructure projects and modernization of data centers. At the same time, the pressure on the technology sector is not easing amid the policy of reducing the number of employees. Thus, the management of Meta Platforms Inc. announced that up to 13.0% of specialists or 11.0K people will be fired in 2023.   

Assessing the financial condition of the company, it is worth noting that Meta Platforms Inc. will publish its financial report on February 1. According to analysts' forecasts, revenue could reach 31.45B dollars, which is lower than the previous estimate of 31.59B dollars, but still significantly exceeds 27.71B dollars in the last quarter. Earnings per share are expected to be around 2.24 dollars, which is also inferior to the earlier estimate of 2.29 dollars, but above 1.64 dollars a quarter earlier.

On the daily chart, the price continues to trade in a global downtrend, rising in the local corridor with the boundaries of 133.00–164.00.

Technical indicators have already reversed and given a clear signal to open long positions: the fast EMAs of the alligator indicator are significantly higher than the signal line, and the histogram of the AO oscillator, being in the purchase zone, forms ascending bars again. 

Support levels: 133.00, 109.00. | Resistance levels: 146.00, 172.00.

Find Us
First Floor, First St Vincent Bank LTD Building James Street Kingstown St Vincent and the Grenadines
Call Us
+1 415 367 3742

Solid ECN Securities is an international brand formed and authorized in Saint Vincent and the Grenadines with the registration number 1390 LLC 2021 committed to offering the best possible trading experience. Disclosure: Please note that foreign exchange and other leveraged trading involve a significant risk of loss. It is not fit for all investors and you should make sure you realize the risks involved, seeking independent advice if necessary.
Solid ECN Securities and it affiliates don't accept applications from Indonesia, Egypt, Australia, Bonaire, Curaçao, East Timor, Liberia, Saipan, Russia, Sint Eustatius, Tahiti, Turkey, Guinea-Bissau, South Sudan and other restricted countries.
Copyright All Right Reserved 2023