#META looking rather precarious.

٢٦ أكتوبر ٢٠٢٣

META released a decent set of results last night, but trade action post market is very weak which makes me think there is a scenario where it could be headed as low as R240 to meet the Rising 200wma and previouys level of support at approx R245.00.

Stock recently made a new high which was not confirmed by the RSI forming a lower high (bearish divergence). I would becareful of buying this thing too soon as i think further weakness is most likely on the horizon in the metaverse!