📉 Meta Completes Bullish Impulse

I can spot a perfect 5-up wave pattern from October 2022 through March 2024. A correction is likely to follow next.

On the chart we have a classic Zig-zag (ABC) correction (5-3-5) but any type of correction can develop. It can be flat, complex, extended, irregular, etc.

There is always the possibility that wave five is not yet over or that it becomes extended; in this case, we continue to expect a correction to show up.

Namaste.

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The breakdown is now confirmed.
Additional red is possible and highly probable.

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We are taking the time to revisit the chart as a new week is just getting started.

The chart was set on the monthly timeframe so let's take a few minutes and entertain ourselves with this one first:

Pretty obvious what is happening.
A bearish move is now in place and fully confirmed.

Ok. This is the one we are tracking:

META (W)

Notice how the highest volume came last week (since February 2023).

👉 High volume confirms this move to real, that is, not a fake breakdown that will lead to a recovery followed by higher highs but instead the start of a bearish wave.

The week closed below EMA21 with EMA10 failing as support the week prior.

We have three consecutive weeks closing red and the biggest bearish sessions since January 2022; the bears are now in full control of this stock/this chart.

Namaste.