META (1W) - Short term Correction UPwards. Wave B coming ?
Heloo Traders and all kinds of Speculators :),
Today i got interested into META ( Facebook) which lost around 65% from its ATH. You can see that chart forms something similar to Falling wedge or Ending diagonal within wave (v) of A.
If so, we could reach a support ideally at 125usd. (or range between 130-110usd).
From where corrective wave UP could begin. With possibility to gain +50 to +75%. Sell zone is between 190-230 USD.
For such move the entire market should enter another bear market rally and a lot of Positive news (Temporarily).
At price around 125USD ... the P/E Ratio will be 10,5 which is very tempting for company like Facebook.
Consider your Risk : Reward ratio. Hopefully no Long-term investor will take this chart too serious for some significant position. (It could be but i think another wave C will come)...
Take care and trade safe. ;)
Today i got interested into META ( Facebook) which lost around 65% from its ATH. You can see that chart forms something similar to Falling wedge or Ending diagonal within wave (v) of A.
If so, we could reach a support ideally at 125usd. (or range between 130-110usd).
From where corrective wave UP could begin. With possibility to gain +50 to +75%. Sell zone is between 190-230 USD.
For such move the entire market should enter another bear market rally and a lot of Positive news (Temporarily).
At price around 125USD ... the P/E Ratio will be 10,5 which is very tempting for company like Facebook.
Consider your Risk : Reward ratio. Hopefully no Long-term investor will take this chart too serious for some significant position. (It could be but i think another wave C will come)...
Take care and trade safe. ;)
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