Usman Salis
Meta Platforms (NASDAQ: META) is bouncing back after facing sustained selling pressure over recent weeks. The stock found solid footing around $710, where buyers emerged to defend the level. This rebound has caught traders' attention, especially as the price action now suggests momentum may be shifting back in favor of bulls.
What the Chart Shows
According to chart analysis from Ali, META is eyeing an initial move to $740, with $790 as a secondary target if the rally gains steam. The recent bounce from $710 is particularly noteworthy since this zone has consistently attracted buyers in the past. The path forward looks something like this: META needs to first clear resistance at $740, which lines up with an area where the stock previously consolidated. If it manages to push through that ceiling, the next logical stop would be $790. The projected trajectory shows a gradual climb with occasional pauses along the way, which is typical behavior during an uptrend. As long as the price stays comfortably above $710, the bullish picture remains valid.
Why This Matters Now
META's recovery isn't happening in a vacuum. The company continues to pull in strong revenue from digital advertising, even as the broader economy sends mixed signals. At the same time, Meta is doubling down on AI development and its metaverse ambitions, which keeps long-term investors engaged. There's also broader momentum building across the Nasdaq, where tech stocks have been recovering after a rough patch. These fundamental factors provide a solid backdrop for the technical setup playing out on the chart.
A clean break above $740 would strengthen the bullish argument considerably and put $790 firmly in play. On the flip side, if META starts struggling to hold above $710, that could invite sellers back and potentially derail the rally. For now, though, the setup favors upside continuation, with decent risk-reward for those positioned on the long side.
Usman Salis
