Meta is currently in a very strong decline, and it looks like it could be targeting the 480 area, maybe even down to 411 support, which comes from the April 2024 and April 2025 levels. That zone could be interesting for potential stabilization after this sharp sell-off.
So for now, the drop still appears ongoing and incomplete, as we are seeing price falling in wave C structure on the daily chart down from 744, which means we should expect five subwaves lower from that swing high. At the moment, the market still seems to be in wave three of that move, especially after breaking below the trendline support around 620.
So for any meaningful stabilization, it’s better to wait a bit longer, as the current weakness may not be finished yet.
Highlights
. Downside targets at 480 and 411 support zone
. Bearish momentum remains strong below 620 breakdown
. Current move likely still in wave three of wave C, so more weakness after subwave four rally
. Stabilization expected only after full five-wave structure completes
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