Saad Ullah
⬤ Meta Platforms is showing signs of a turnaround on the weekly chart after bouncing hard from a major support area. The stock delivered its strongest weekly performance since April with roughly 9% gains, hinting at a possible shift in near-term momentum. This rebound happened as META broke out of a descending broadening wedge pattern, suggesting sellers might be losing steam.
⬤ Looking at the chart, there were two similar 9% weekly rallies this year, both starting from demand zones where the price found its footing before. META has climbed back into a weekly fair value gap between 620 and 640, where buyers stepped in after weeks of red candles. The recovery lines up with momentum turning positive for the first time in a while, showing that bearish control could be weakening.
"The alignment between price structure and momentum indicates that bearish pressure may be easing."
⬤ The stock still faces resistance overhead in the 680 to 720 range where previous supply zones formed. META hasn't cleared those levels yet, but this week's strong green candle marks a clear change from the steady slide we've seen lately. With weekly momentum flipping upward, the bearish case looks shakier, especially since this bounce disrupted the previous downward pattern.
⬤ This matters because META is a heavyweight in major stock indexes. When its weekly momentum shifts, it can influence sentiment across the entire large-cap tech sector. If META holds above that reclaimed fair value gap and momentum keeps improving, markets might see this as an early sign that tech stocks are stabilizing after weeks of selling pressure.
Saad Ullah
