Elliott Forecast - Elliott Wave Suggests Double Correction in META to Provide Buying Opportunity

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Elliott Forecast

Eric Morera

Elliott Wave Suggests Double Correction in META to Provide Buying Opportunity

Short Term Elliott Wave View in META suggests that rally from 7.25.2024 low is in progress as an impulsive structure. Up from 7.25.2024 low, wave (1) ended at 544.23. Wave (2) pullback ended at 495.51 as the 1 hour chart below shows. Up from there, the stock extended higher in wave ((3)) as an impulse. Wave 1 of (3) ended at 527.94 and pullback in wave 2 of (3) ended at 517.11. Stock extends higher again in wave 3 of (3) towards 583.04 and wave 4 of ((3)) ended at 566.4. Final leg wave 5 ended at 602.95 which completed wave (3).

Wave (4) pullback is currently in progress as a double three Elliott Wave structure. Down from wave 93), wave W ended at 581.61 and rally in wave X ended at 592.18. Expect Wave Y to extend lower towards 100% – 161.8% Fibonacci extension of wave W. This area comes at 557.7 – 579.8 where wave Y of (4) should end. From this area, the stock should resume higher again or at least rally in 3 waves. Near term, as far as pivot at 495.51 low stays intact, expect pullback to find support in 3, 7, or 11 swing for further upside.

META 60 Minutes Elliott Wave Chart
META Elliott Wave Chart
META Elliott Wave Video
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Source:-forecast.com/news/elliott-wave-suggests-double-correction-meta-provide-buying-opportunity/

11/10/2024 1 EN

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Elliott Forecast

Elliottwave-Forecast.com (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to thousands of clients. ElliottWave-Forecast has built a reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, Cycles, Proprietary Pivot System, we provide precise forecasts with up-to-date analysis for 52 instruments including FX majors, Gold, Silver, Copper, Oil, TNX and major Equity Indices. Our clients also have immediate access to our proprietary Actionable Trade Setups, Market Overview, 1 Hour, 4 Hour, Daily & Weekly Wave Counts. Weekend Webinar, Live Screen Sharing Sessions, Daily Technical Videos, Educational Resources, and 24 Hour chat room where they are provided live updates and given answers to their questions.

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Eric Morera

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Elliott Wave Suggests Double Correction in META to Provide Buying Opportunity

Ethereum ETHUSD Buying The Dips After Elliott Wave Double Three

Elliott Wave View: EURGBP Rally Expected to Fail

Rigetti Computing RGTI Hit Another Target. Possible Extension Ahead.

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