Comprehensive Technical Analysis of Meta Platforms (META) for 24-Hour Price Prediction

1. Trend Analysis

• Long-Term Trend (4-Month Window):
  • META showed a volatile but generally upward price trend from early February to May 2025, marked by sharp drops in late March and early April, but a robust recovery ensued in May.
  • From the low of $494 (Apr 4) to the current $691, the recovery has been extremely strong (>35% gain in 2 months).
• Medium/Short-Term Trend:
  • The last two weeks in June (June 2nd onwards) trade above $670, pushing to recent highs of $703 (June 10).
  • Current price action shows minor pullbacks, with lower highs post-June 10, indicating possible short-term consolidation after a strong rally.

2. Candlestick & Chart Pattern Recognition

• Looking at Daily Candlesticks:
  • Concerns: Multiple upper wicks post-June 6 ($702.80), i.e., June 10-13, as rallies are sold.
  • Lower wicks (e.g., June 13, 14: $687 low, $691 close) show intraday buying demand near $687-$688.
  • Notably, large-bodied bullish candles on June 2 and June 4 show high momentum, but the follow-through has faded somewhat.
• Pattern Observed:
  • Possible Double Top/Resistance region forming at $703 (June 6 & 10 highs).
  • Micro-support established at $687 (tap and recovery today), but repeated tests can weaken support.
• Intraday/hourly data:
  • Overnight to early June 13: Price dropped to $680s, but quickly bounced back through $684 (9-12am UTC), showing strong buyers below $685.
  • After 13:30 UTC, robust push to $691 confirmed resilience.

3. Volume & Momentum Analysis

• Volume Trends:
  • High volume on up days (e.g., June 2, $15.7M; June 4, $14M) indicated conviction.
  • Volume receded modestly as price moved sideways in recent daily candles—sign of consolidation not distribution.
• MACD/RSI Estimate:
  • RSI (inferred from price swings): Approaching overbought (likely near 70) after rallying from $640 to $700.
  • MACD: Recent high-momentum crossover in early June; histogram likely narrowing as price consolidates.
• OBV (On-Balance Volume):
  • Remains in a solid uptrend, confirming sustained interest even as price pauses.

4. Moving Averages/Mean Reversion

• Short-Term MA (5, 10, 20 day):
  • 5-day & 10-day MA both above 20-day MA (all rising)—this supports continued bullish bias but signals stretched conditions.
• Support/Resistance from MA:
  • 20-day MA likely sits near $675, which has acted as area of strong price memory (many closes and opens near this level since May 30).
  • Price currently $20 above 20-day MA: A reversion to mean is possible in high-volatility markets.

5. Fibonacci Retracement Levels (from the last swing low at $640 to recent high $703)

• 23.6%: $687 (tested today, held!)
• 38.2%: $674
• 50%: $671
• Price bounced precisely at the 23.6% retrace and rejected $703.
  • If $687 ($23.6%) breaks, likely drop to $674-$671 area.

6. Key Support and Resistance

• Key Resistance: $703 (recent highs), $707 - $710 (psychological, round number institutionally relevant)
• Key Support: $687 (just held), then $674 - $671 (high-volume reversal zone, also coincides with 38.2%/50% Fib and 20-day MA)

7. Sentiment & Market Participation

• Orderbook / Volume Profile Observation:
  • Heavy absorption of sells at $687, thin liquidity above $703 (resistance not decisively overcome)
• General Market Factors (inferred):
  • If broader tech sector stabilizes, META could push higher.
  • No obvious external catalyst for next 24 hours; flows will be more technically driven.

8. Volatility Metrics

• Historical Volatility: Elevated—many 10-15 point daily swings recently.
• Implied Volatility (estimated): Likely at upper quartile range.

9. Comparative Peer Analysis (Beta Relationships)

• Given NVIDIA, MSFT, and similar peers have recently made new highs before consolidations, META's pause near highs could portend a local top before another leg up or a short-term pullback.

10. Market Profile & VWAP (Volume Weighted Avg Price)

• VWAP from current month infers strong support around $677-682 (multiple high-volume nodes here).
• Price consistently closes above VWAP, but with increasing "tails" lower, suggesting sellers are testing buyers' resolve.

11. Elliott Wave / Advanced Patterns

• Five-wave impulse from April low completed at $703—possibly entering an ABC corrective phase (A = $687, B = $703, targeting C = $671-675?).
• If so, expect a test and potential wick to $674 area within next 24 hours before resuming uptrend.

---

Synthesis & 24h Prediction

• Bullish Structure Intact: MA trend, volume, and VWAP above average; no major distribution yet.
• Short-term Top: Failure to sustain above $703 (despite two attempts), repeated rejection of price > $694, and today's fade after bounce from $687, hint at exhaustion.
• Pullback Scenario (High Probability): Most techniques converge on a likely pullback to $674-$678 area in the next 24 hours before renewed buyers step in.
• Buying is optimal near $674-$678—not at current $691—due to risk of short-term correction.

Trade Decision

• Stand aside from immediate long entry at $691. Wait for a technical pullback.
• Optimal trade: Set a buy limit at $675.
• Take profit at recent highs ($703) on bounce.

Risk Management: Second support $665, invalidation of thesis below $660. Tight stop-loss if $667 decisively fails.

---