META is down about 8% and he would not go near it now: unlike a peer, it has no order zone except at the 561 level; its recent top-side rejection showed sellers were not done. Its past reactions around that zone illustrate his method, not current support.
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Before you rush to buy the dips on any of these harsh, heavy selling days, stocks like Nvidia, Micron, AMD, Intel, Broadcom, and you saw others like Seagate and SanDisk, right?
LRCX, what is it ? Lam Research, Amat, and Applied Materials are some scary and worrying stocks; Meta is down 8%. Amazon's stock fell by 5% . Before you proceed to buy dips in any of them , I would like to give you some advice on how important it is to pause and wait a moment.
Hold back and wait a moment until the market tells you that it's time to move.
Let's move on to " Meta". Meta is down by approximately 8% now. Now, "Meta" is one of the stocks that I wouldn't go near at the moment , is it? Look at the difference between " Google," where the price accidentally drops to this order zone, while " Meta" has no order zone (and you may hear me say exceptional zone or order zone, they are the same thing) except at the 561 level.
Also, "Meta" is a great example that shows the success of this method in the past , isn't it? You can see that here in March, where the command area was created . The price rose, then immediately fell again .
The price rose, then fell again eventually. It rose, then it fell again. It rose again, didn't it? And now, you'll also notice it on the top side, right? He created this command area here, and it was immediately rejected.
He certainly had enough power to come up here, but the sellers weren't done yet. Even though he had passed the peak and closed inside that box, the sellers were still there . So, this is a great example that illustrates an area that has been worked on many times.
What this channel has said about $META
Christopher Uhl - OVTLYR has 4 calls on this stock; only the adjacent ones are shown.