Peter Smith
⬤ Meta Platforms has started moving up after hitting the Blue Box support region on the chart, with the price holding steady around $610. META reacted exactly as anticipated to this zone, and long positions taken earlier have now moved into profitable territory as the bullish pattern continues to develop.
⬤ The chart shows a finished corrective wave labeled C within the larger Elliott Wave structure, followed by an upward bounce from the $653 to $588 range. This Blue Box marks a high-probability reversal area where trend continuation typically happens. META is now trading above $600, which lines up with expectations that the next upward move has likely begun.
⬤ The wider price movement reveals several completed impulse and corrective patterns leading into the current bounce. META had dropped from above $700 earlier, completing a full corrective cycle before finding support. The Right Side signal adds confidence to a directional outlook favoring more upside, provided the key invalidation level near $467 stays protected.
⬤ This bounce matters because META plays a major role in the broader tech sector. Growing upward pressure could boost positive sentiment across high-growth stocks, strengthen risk appetite, and add to the improving technical picture seen in major technology indexes.
Peter Smith
