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Don’t click that “buy” button just yet! Meta Platforms (META) might look appetizing to some dip buyers after Wednesday’s earnings massacre, but even a quick glance at the daily chart tells us that the downside for META from here offers more possibilities.
💡 DMK Insight
META’s recent earnings report was a gut punch, and here’s why traders should hold off on buying: the daily chart shows potential for further downside. After a significant earnings miss, the stock’s technical indicators suggest a bearish trend could continue. With the market reacting negatively, traders should be cautious of a possible retest of recent lows. If META breaks below key support levels, it could trigger additional selling pressure, especially from algorithmic traders and institutions looking to capitalize on momentum. It’s worth noting that the broader tech sector is also under scrutiny, which could amplify META’s volatility. Keep an eye on the $150 level; a breach here could signal a deeper decline. On the flip side, if META manages to hold above this level and shows signs of recovery, it could attract dip buyers looking for a rebound. But for now, the risk-reward ratio doesn’t favor aggressive buying. Watch for any news or analyst upgrades that might shift sentiment, but tread carefully until clearer signals emerge.
📮 Takeaway
Traders should monitor META closely around the $150 support level; a break could lead to significant downside, while a hold might attract buyers.
