Meta 2-17 (scalping + forecast)

🔥 Market Overview:
Trend: Meta Platforms (META) remains in a strong uptrend, making new highs, but signs of exhaustion are emerging.
Key Levels:
Resistance: $740 (recent high, potential breakout zone).
Support: $719–$720 (Supertrend support).
Indicators:
EMA 9: $731.79 (acting as dynamic support).
EMA 200: $649.11 (long-term bullish confirmation).
Supertrend: $719.66 (trend remains bullish as long as this holds).
MACD: Bullish, but momentum is slowing.
RSI: 67.32 (approaching overbought conditions, a pullback is possible).
🔥 Scalping Strategy:
🩸 1. Momentum Scalping:

Buy near: $730–$732 if momentum sustains.
Target: $740–$745.
Stop-loss below: $720.
🩸 2. Breakout Scalping:

Long if price breaks above: $740, targeting $750.
Short if price rejects $740, targeting $725.
🩸 3. Range Scalping:

Sell near: $740–$745 resistance.
Target: $725–$720.
Stop-loss: $746 if breakout occurs.
🔥 Mid-Term Trend Forecast (1-3 Weeks):
If META breaks $740, a rally toward $750–$760 is likely.
A rejection at $740 could trigger a pullback to $720–$700.
RSI is near overbought, signaling a potential short-term retracement.
🔥 News & Market Context:
AI & Ad Revenue Growth: Meta continues to lead in digital ads and AI development.
Tech Sector Strength: The stock follows a broader tech uptrend but may see profit-taking.
Market Sentiment: Investors are optimistic but cautious ahead of key economic data.
🔥 Decision:
🩸 Short-term: Look for a breakout above $740 or a rejection for shorting opportunities.
🩸 Mid-term: Bullish, but needs confirmation of sustained strength.
🩸 Ideal Play: Buy on dips near $730, or short if price struggles at $740.

👑 Final Verdict: Meta is in a strong uptrend, but momentum is slowing. Bulls need to clear $740 for the next leg up. Caution is advised as RSI nears overbought levels.

🔥 LucanInvestor's Quote: "The trend is your friend—until exhaustion takes over."