TradingShot’s chart leaves the timing of Meta Platforms’ $1,000 marker open and places a possible $500-$550 retracement below the shares’ latest close in its technical reading.
Meta shares finished Oct. 23 at $642.62. From that level, the chart’s lower range is about 14%-22% below the close, while $1,000 is roughly 56% higher.
The chart places the $500-$550 area near Meta’s 50-month moving average and a Fibonacci level. It also locates the recent pullback at the 100-week moving average, with the $1,000 marker corresponding to a 1.618 Fibonacci extension.
TradingShot’s long-range chart traces an upward channel from Meta’s IPO. It describes the rejection following September’s high as a double top and sets the pattern beside the 2018 correction; that resemblance alone does not indicate the stock’s next move.
TradingShot says it would view the setup as bullish if Meta’s monthly relative strength index (RSI) reached 40 before shares tested the 50-month moving average or $550. The chart gives no timing for that condition. It is TradingShot’s technical analysis, not company guidance.
