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Asset Watch
Tuesday, August 29, 2023
If the fundamental predictions prove prescient, Meta Platforms could provide immense value at these levels. The stock is inching closer to its 20-week moving average, and the blue line has been a major support and resistance level over the last few years.
Moreover, when the stock broke below the 20-week MA in January 2021, it found support near the late 2020 closing lows. As a similar setup now presents itself, a breakdown below the 20-week MA of $272.15 would put next-level support near $250.
With Meta Platforms ending the Aug. 25 session down by nearly 13% from its 2023 high, is this a buying opportunity?
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