Meta is likely to pause its uptrend now

Meta has been on a tear since November 2022. Regular followers of my comments on various platforms and those enrolled in my online program know that I have been bullish for Meta since it approached the $100 level. Today, 9th April 2024, the stock is trading at $512.25. Meta has posted its all-time high so far, just yesterday, at $531.48.

So why could we see a mild pullback? First of all, the broad market looks like it needs to pause for breath. Secondly, Meta has reached a near-term objective, and some profit-taking is entirely possible. There are some more detailed notes that I am sharing with students of the online course because that is where I teach them how to trade.

How low can we go? We will probably go no lower than $450 before seeing another rally. But please keep in mind that I am NOT offering trading advice here. I am letting you know that META has drawn my attention.

Good luck!

-Ramki