Here’s your entry into the $META-Verse – December 10, 2024
This is Scott at Scott Trades on Twitter with StockMarketMentor.com and your Chart of the Day. I want to take a look at Meta Platforms ( NASDAQ: META ).
If you want to get into the meta-verse, I’m not talking about the 3D goggles, the VR headset, or anything like that. I’m just talking about getting into this trade because Meta ( NASDAQ: META ) has been a monster for months.
Maybe you’re sitting on the sidelines looking at Meta ( NASDAQ: META ) thinking, where’s my entry? How do I even buy this thing? I definitely see an entry here on Meta ( NASDAQ: META ), and what I would do is set an alert on Meta ( NASDAQ: META ) right around this 630.00 level, maybe just under 630.00.
As we see Meta ( NASDAQ: META ) has broken down under this 50-day moving average, but it was able to get back above and do it with conviction. Anytime you see a stock floundering under the 50-day, ideally, it doesn’t get too far away from the 50-day moving average.
But if they bring that stock back above that 50-day moving average, and do it on volume, that’s typically a stock that you do want to get involved in. So we see it above the 50-day moving average. We see it making a new high, and then we see it consolidating right along that all-time high level.
We see that all-time high just right around 630.00. And so what I would do again is, set an alert and watch for Meta ( NASDAQ: META ) to break through that zone, and do it on good volume. That could be a trigger to enter this stock.
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