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Meta Platforms Inc. (META) June 2023 (Paid Version With Best Trades)

Updated: Jun 5, 2023



  • Month’s Theme: A sideways S-formation within a channel. That’s crossed with at least one period of sideways rotation ending with a fast, sudden move higher.


  • Behavior Around the High: A sharp decline off of a prominent crest on a one-month scale.


  • Behavior Around the Low: A period of sideways rotation near the low and a sharp drop within that sideways rotation.


  • Exclusive Trade Opportunities for Subscribers:

    • An opportunity to open a short position at a crest on the 9th. I would close that after a notable decline on the 13th.

    • An opportunity to open a long position on the 12th. I would hold that until the 16th when we have a big move higher successfully turning resistance into new support.

    • An opportunity to open a long position early in the day on the 22nd in the midst of some price change. I would also open a short position at the end of the day on the 22nd. I would hold the short position into July. I would close the long position if there’s an opportunity on the 28th if not on the 30th.



Overview


On the 1st, there’s a notable decline through multiple support levels. On the 2nd, a resistance level is highlighted.


On the 5th, it looks like there’s a lot of price change and an important technical price level on a one-year scale. There’s both a prominent crest and trough on the 5th. On the 6th, it looks like we’ll probably break through that price level on the 5th, especially toward the end of the day. On the 7th, that move higher continues. On the 8th, there’s a notable move higher and a period of volatility throughout the day followed by a fast, sudden move higher. That rally completes toward the end of the day after dropping off of a crest on the 9th.


There’s a notable decline on the 12th. That decline continues into the 13th and there’s a range on a multi-day scale highlighted. On the 14th, there’s a big move to the upside in the face of seemingly overwhelming headwinds. On the 15th, I’m advised to be cautious due to multiple false tops or bottoms (likely bottoms in this case). On the 16th, we’ll have a notable move higher and successfully turn resistance into new support. The market is closed on the 19th.


On the 20th, there’s a period of sideways rotation that increases with bullish momentum as we move forward in time. We’ll visit a crest. On the 21st, we’ll revisit that crest at key resistance and fail to break through. That’s followed by a decline through key support into a trough. That point could be another low for the month. There’s a big move to the upside on the cusp of the 22nd and 23rd. There’s an important resistance level on a multi-day scale on the 23rd as well as a decline.


That decline continues through multiple support levels on the 26th. On the cusp of the 26th and 27th or early on the 27th there’s a prominent move to the upside. There may be an agreement between two leaders and a holding pattern with a pop and drop on the 27th. That move higher will continue into the 28th where there’s a highest high. That’s followed by a decline off of that high that increases with momentum moving forward in time. On the 29th, there’s a prominent trough or low that will stand out on a multi-day scale as well as a prominent crest. On the 30th, there’s a big move to the upside that reaches for distant resistance. I’m advised to be cautious on the 30th due to the possibility of a decline in early July.




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