Meta Platforms Inc (META)

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Meta Platforms Stock Facing Reality Check In Early 2022
By: Chris Kimble | January 12, 2022

Facebook (NASDAQ:FB) took another step in its evolution into a multi-platform virtual when changed its name to Meta Platforms. There’s been a lot of intrigue around the name change as current platforms Instagram and Facebook continue to show strength.

But as tech continues to trend higher at elevated prices, some are wondering if this bull market is getting long in the tooth. And perhaps consumers aren’t quite ready for a full dose of virtual and augmented reality just yet.

One way to track these questions is through Meta Platforms stock (FB). Below is a “weekly” chart highlighting a short-term narrowing pennant pattern. FB is currently testing rising support within this pattern and two key moving averages at (1).



This looks like a reality check at (1). What happens here could be important for the company and the broader tech sector.

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