Here, I analyze
META
according to trendlines.
Lower green trendline is important, tracing back to earlier months, hence thickest.
Upper green trendline is of lesser time, hence less thicker.
The red lines show the most recent levels to keep a tab on.
The black lines are another set of trendlines to look.
Watch how how the stock behaves when it touches these lines and then trade accordingly.
Personally, I would enter a short trade if it touches 'the red line' ( double top ) ; and more convicingly if the 'strong green' trendline, with a significant break of it as stoploss.
Your comments and opinions are welcomed.
META
according to trendlines. Lower green trendline is important, tracing back to earlier months, hence thickest.
Upper green trendline is of lesser time, hence less thicker.
The red lines show the most recent levels to keep a tab on.
The black lines are another set of trendlines to look.
Watch how how the stock behaves when it touches these lines and then trade accordingly.
Personally, I would enter a short trade if it touches 'the red line' ( double top ) ; and more convicingly if the 'strong green' trendline, with a significant break of it as stoploss.
Your comments and opinions are welcomed.