Eseandre Mordi
Meta Platforms' stock is showing renewed strength after completing a classic Elliott Wave correction. The price bounced exactly from the forecasted Blue Box support area, suggesting bullish momentum is returning and a fresh upward leg may be starting.
Meta's Bounce from the Blue Box
Meta completed a clean five-wave rally (waves 1-5), followed by a three-wave correction labeled ((A))-((B))-((C)). According to trader analysis from Elliottwave Forecast, this pullback ended right inside the Blue Box reversal zone between $427 and $467, where buyers were expected to step in.
The chart confirms Meta rebounded sharply from this level, climbing toward $705. Analysts noted the stock remains on the bullish "Right Side" and don't recommend selling. This suggests the corrective phase has run its course, and Meta may have already kicked off its next upward sequence.
Technical Picture and Key Levels
- Support Zone (Blue Box): $427.90–$467.35
- Invalidation Level: $466.90 (bullish outlook holds above this)
- Current Price: Around $705
- Upper Target: $825–$830, near the prior peak at wave ((5))
The completion of wave ((C)) at the Blue Box followed by the strong push higher indicates buyers have regained control, aligning well with Elliott Wave principles.
Broader Market Environment
Meta's turnaround comes amid renewed optimism across big tech. The stock continues to stand out thanks to strong ad revenue from Reels and Threads, AI-driven efficiency gains, and growing investor confidence in its metaverse initiatives. This supportive backdrop has strengthened the technical setup.
Elliott Wave Perspective
The finished correction ((A))-((B))-((C)) and bounce from the Blue Box suggest the start of a new bullish wave—likely Wave 1 of a larger five-wave advance. The "Right Side Up" label reinforces this directional bias, reminding traders to stay aligned with the uptrend.
Eseandre Mordi
