META) Testing Key Support – Is a Reversal on the Horizon?

Technical Analysis & Options Outlook

📌 Current Price: $587.60

📌 Trend: Bullish Attempt After Key Support Hold

📌 Timeframe: 1-Hour

Price Action & Market Structure
1. Bullish Rebound from Support – META bounced off the $585–$580 demand zone, signaling buyers stepping in.

2. Breakout Setup Developing – Price is approaching trendline resistance at $595, a critical level to watch.

3. Potential Pullback Before Breakout – If META gets rejected at $595, expect a retest of $585 before another push higher.

4. MACD & Stoch RSI – Both indicate bullish momentum, but META is nearing overbought conditions, suggesting possible consolidation before continuation.

Key Levels to Watch
📍 Immediate Resistance:

🔹 $595 – Trendline Breakout Level

🔹 $605 – 2nd CALL Wall Resistance (42.52%)

🔹 $620 – 3rd CALL Wall (37.57%)

📍 Immediate Support:

🔻 $585 – Demand Zone & Breakout Retest Level

🔻 $580 – Highest Negative NETGEX / PUT Support

🔻 $574.66 – Critical Support Level for Bulls

Options Flow & GEX Sentiment

* IVR: 28.6 (Lower Volatility)
* IVx: 40.9 (-2.14%) (Declining Volatility, Favoring Breakouts)
* GEX (Gamma Exposure): Bearish Bias, But Improving
* CALL Walls: $605 & $620 (Upside targets)
* PUT Walls: $580 & $574.66 (Key demand zones)

📌 Options Insight:
* Above $595, META could see a momentum-driven rally toward $605–$620 as dealers hedge long positions.
* Below $585, risk increases for a test of $580–$574.66, where heavy liquidity is concentrated.

My Thoughts & Trade Recommendation
🚀 Bullish Case: If META holds above $585, expect a push toward $605–$620.

⚠️ Bearish Case: If META fails at $595, expect a pullback to $580 before another reversal attempt.

Trade Idea (For Educational Purposes)
📌 Bullish Play:

🔹 Entry: Break and hold above $595

🔹 Target: $605–$620

🔹 Stop Loss: Below $585

📌 Bearish Play (Hedge Idea):

🔻 Entry: Rejection at $595

🔻 Target: $580–$574.66

🔻 Stop Loss: Above $600

Disclaimer
This analysis is for educational purposes only and does not constitute financial advice. Always perform your own research and manage risk accordingly.

Final Thoughts
META is attempting a breakout from support, but $595 is a critical level. A successful breakout could lead to $605–$620, while failure at resistance could bring a retest of $580 before the next move. Wait for confirmation before taking a trade.