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New York
StocksHow to Buy Facebook (Meta)

How to Buy Facebook (Meta)


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Hi Traders,

Meta also known as Facebook presents us with a Buy opportunity on the four hour timeframe. Looking at this price action we can see that price has created a channel ranging between 172 and 155, Price as strongly broken out of this channel and I now wait for a pullback.

I am waiting for price to pull back into 172.5 before sparking my interest in a buy position. Once we get the pullback I will be waiting for price to provide a rejection and show signs of buying pressure before entering.

My Target is at $200 per share as this is a point of previous resistance and a psychological price point.
I will be looing out for price to reject $189 as this could be a point where we get some sort of Rejection.

Be safe and be patient.

Renaldo Philander

Prediction Analysis Overview Table

Analysis Overview InformationPrediction Analysis information
On what market is this position based (Forex, Stocks, Crypto, Indices, or Commodities)?Stocks (Securities)
What is the trading position identifier (Name and/or Symbol)?META
Is this a Short or Long Position?Long
Would this be considered a Short Term, Medium Term, or Long Term trade?Long Term
As a Short, Medium, or Long Term trade, which best describes the position (Scalping, Day Trading, Swing Trading, or Position Trading)?Swing Trading
What Time Frame chart is the position based on (1-Minute, 5-Minute, 15-Minute, 30-Minute, 1-Hour, 4-Hour, Daily, or Weekly chart)?4-Hour
Depending on the asset, how much do you expect it to move in price or percentage?From Entry to Target – 15.7%
What ratio of risk to reward is this trade/position? Choose your appropriate target(s)Approximately 5 to 1 Target 2 N/A Target 3 N/A
What were the technical analysis tools used? Tick the appropriate boxes;Chart PatternsIndicatorsPrice ActionSupport & ResistanceTrendlines
From the technical analysis tools and indicators provided, tick the appropriate boxes for the tools and indicators used to analyze the position;Ascending Triangle, ☐ Bollinger Bands, ☐ Candlesticks, ☒ Channel, ☐ Cup & Handle, ☐ Descending Triangle, ☐ Double Bottom, ☐ Double Top, ☐ EMA, ☐ Fibonacci Retracement, ☐ Flag, ☐ Head & Shoulders, ☐ MA, ☐ MACD, ☐ Order Blocks, ☐ Pennant, ☐ Rounding Top Or Bottom, ☐ RSI, ☐ Symmetrical Triangle, ☐ Volume, ☐ Wedge

Trading Prediction Success Probability Score

FSP ranks the probability of this trade a 5/10

  • Wait for pullback
  • No Pullback, No Entry

Disclaimer: The FSP probability score is derived from adding and subtracting the positive and negative aspects of the position and is not a definitive sign of how the trade will play out. FSP is not in any way a financial advisor

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