Meta Platforms Inc… the trillion-dollar Silicon Valley juggernaut formerly known as Facebook… has been a HUGE disappointment.
The video Zucks made just shy of 1 year ago to debut the new name showed everyone living it up in the land of make believe…
And while there might be plenty of Gen Zers who want to live as a flying “non-binary” octopus… it doesn’t look like legacy users are ready to ride the wave.
And with Tik Tok taking a big bite out of their active user base… it’s meant a tumble for META.
The stock is off 60% from it’s all time high and showing signs of a possible breakdown:
That’s the obvious idea, but what if there are some hidden levels coming into play?
Zoom out a bit and look at the bigger picture:
See that volume peak on the right?
That’s our Lodestone Level. It’s where the most volume has traded over the past 5 years, and it acts as a giant magnet, pulling price into it.
Through June, the stock traded in a range, and just broke through it:
Buying any of those bounces could’ve made your month– and there were 5 of them before the stock finally took it out.
But where is it headed? After all, it’s been churning through inventory for months now.
What about the low volume node just underneath?
I think the stock is trying to play a little trick on us, sucking in late shorts and getting it down into premium levels.
Two ways to trade it.
Either look for the hold of the next lower level, or look for some kind of a failed auction and a swift move back to 170…
If you want to know how we’re looking at plays like $META and how to use these Lodestone Levels to find big potential breakouts…
Original Post Can be Found HERE