META: downtrend continuation or reversal?

16 Jun 2022

META is down almost 60% in the last year and it looks like there are two possible outcomes from here.

Bullish scenario:

• The current pattern is generally bullish and typically anticipates a significant trend reversal.
  
• The Sentiment Index indicator shows a weakening in the Bearish Sentiment which could indicate that a more bullish sentiment could come next.
  

Bearish scenario:

• The price is currently pushed down by two major resistances and any bull attempt must be able to break up both.
  
• A breakdown of the Bearish Sentiment trendline (blue trendline at the bottom) would indicate a strong trend continuation to the downside.
  

Given the overall market condition, it is likely that META will move according to the macro-environment, however, the two scenarios above outline what to look for.

Remember to do your analysis, be patient and always look for confirmation from the indicators.