We have revised our outlook for META.
We previously expected META to have already completed its major top. However, the current structure indicates otherwise. META is now expected to create a new all-time high above $796.47, near our defined price targets (yellow zone).
Price Target Levels:
- 100% at $836.50
- 161.8% at $1,032.33
These price targets serve as a guideline for where we potentially expect the market to complete its top. They do not function as a selling or buying zone. The market is expected to unfold within a standard five-wave structure to complete a major top with light blue wave 1 — ideally within our price target zone.
Additionally, we are currently able to identify an alternative scenario, which still carries a probability of occurring.
This alternative suggests that META has already set a long-term major high for light blue wave 1 and is already trading within a long-term correction, leading into light blue wave 2. This corrective phase should be in its final leg. We will validate this alternative as soon as META breaks below $520.26. For this alternative scenario, we have defined a Fibonacci retracement zone where the long-term correction should come to an end, opening long-term buying opportunities for this stock.
Long Entry Levels (Alternative Scenario):
- 50% at $414.64
- 61.8% at $337.67
- 78.6% at $228.09
Stop Loss: 1% below the zone at $225.82
However, as long as the market continues to trade to the upside, we maintain our primary scenario that META will establish a new all-time high.
Should anything change with this stock, we will update you immediately.
Kind regards,
Monalytics
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