META expected to decline to 690-700 (sweet spot 660) in coming days for a bounce; long-term view remains higher by year-end.
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I know Adam loves Meta and he thinks it's got legs. I am taking the other side of that bet, but not for long because I do believe this downward flow in Meta is going to give us a very nice buy zone.
And so I'm looking for it to slip down into that 690 700 zone over the next few days and then give us a bounce. My sweet spot would be if it came down to 660 and I would be woohoo super excited about the buying there.
Don't know if it's going to give it to me. But if you notice very big volume right on all the Muse news sitting right there at this 4hour candlestick formation. That's the one that we're slipping inside of.
So, if we get a 50% retrace of that, we're going to be able to sit down and go, "All right, let's see what we can do here." Can we come in to that zone between 700 and 690? That would be an absolute sweet spot.
But of course, that's just me looking do with that one.
My loving meta, our trade that we put on was, you guys could tell me, I don't have it in front of me, but if we sold the 665 or the 675 bullput credit spread, so we land on the exact same price.
So, I liked it above the same level you're saying you would like it at. That's where we sold the puts, which is interesting. So, yeah, I wasn't buying that on an 80.0 move to continue higher.
Although, I do think it will be higher by the end of the year.
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