META's chart shows a breakout above the middle 50% of an inclining parallel channel, a retrace, and a bounce; consecutive daily candles showed buyers defending lows and the Oct. 20 close inside the prior day's candle was positive. Near-term resistance is at pivot tops 771 then 780.

Tesla, we've got IBM, we've got Lamb Research, all moving after the bell, including Meta.

Look at this nice pop here on Meta. Uh we closed on Meta down under $700 at 69752. What a nice move. Now currently trading at 737.

But if you look back further, this is an inclining parallel channel that I found here on the chart of Meta. The middle 50% area has done a really good job halting price on several different attempts moving up.

And in addition, after we finally broke above that 50% area, what is this, guys? What is all of this that's going on right here?

Well, you should know that's a breakout, retrace, and bounce play. Now, we even closed underneath that 50% area, but look at that daily candle that closed underneath the 50% area of this parallel.

In addition, look at the daily candle the previous day. It's telling you that there were all a whole bunch of buyers defending the low range of price action both of those consecutive days despite price moving lower.

But the key thing here, this day on October 20th, closed within the candle on October 19th. That was positive. As we didn't illustrate, we were going to be closing underneath this previous day's candle and probabilities would shift to head lower.

This was kind of our foreshadowing moment. The charts do this from time to time because you know why? All of us humans are either buying or selling on this chart. And as there's big institutional buying, it's going to appear here and it's going to appear to look something like this.

So this is a great educational moment. Uh like freeze this in your brain. Whatever you can do to understand when you see these wicks developing specifically right at a key level on the chart, it's telling you a lot of investors are trying their best to defend the range.

And especially if you get more than two, you get three days. My goodness, that's really giving you it's like a flashing yellow light right there on the screen saying buy this level and buy it now because you may have a move up like this.

Now, the near-term resistance on Meta is going to be up here at these pivot tops, 771 followed by 780 on the charts.