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Asset Watch
Tuesday, October 3, 2023
Meta Platforms is also behaving like a rebound is approaching. The candlesticks at the top of the chart track Meta Platforms, while the red line at the bottom tracks the S&P 500. Analysing the grey trendlines shows that Meta Platforms has a recent history of making higher lows while the S&P 500 makes lower lows during corrections.
In other words, the former’s strength has been an early indicator of the latter’s recovery. As the S&P 500 turns its last two pullbacks into new highs alongside Meta Platforms, a third iteration is present on the right side of the chart. That means we could see the bulls regain control sooner rather than later.
Are you buying the Meta Platforms’ boost, or is this time different?
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