META Stock Rises for 19 Consecutive Sessions
According to the Meta Platforms (META) stock chart:
Based on closing prices, the stock has posted 19 consecutive daily gains since 17 January.
META has reached an all-time high, solidifying above the key $700 per share level.
Bullish sentiment was driven by a strong Q4 earnings report that exceeded analyst expectations:
Earnings per share: reported $8.01 vs. expected $6.75.
Revenue: reported $48.38 billion vs. expected $46.99 billion.
Additionally, media reports highlighted:
Meta Platforms announced a 5% dividend increase.
Over 3.3 billion people interact with its apps daily.
Mark Zuckerberg stated that 2025 will be a turning point for AI at Meta.
Strong ties between the companys CEO and President Trump.
Technical Analysis of Meta Platforms (META) Stock
Price movements have formed an ascending trend channel (blue) since 2024, with its lower boundary acting as stable support. However, the daily RSI indicator has entered extreme overbought territory, signalling potential vulnerability to a pullback.
If a correction occurs, the $700 psychological level may be tested, similar to how $680 was previously.
Former resistance at $636, reinforced by the channel's lower boundary, appears to be a strong support level.
Analyst Forecasts for Meta Platforms (META) Stock
According to Yahoo Finance:
In the past week, 23 analysts raised their earnings per share estimates for META in 2025.
56 out of 65 analysts rate META stock as a "strong buy" or "buy."
TipRanks data indicates an average 12-month price target of $764.61 for META stock.
Read more: https://fxopen.com/blog/en/oa-meta-stock-rises-for-19-consecutive-sessions/
Text source: Forex Trading Blog
