Meta Platforms Inc (META)

[soccadoc]

It could go either way. FB is in a downtrend. Before taking a long position, the gap needs to fill and then the price needs to hold 23.00. If support at 23.00 fails, then it is look out below, possibly at low as the 21.20 congestion level.

One of the beauties of day or swing trading is that I don't care which direction this goes, as long as it goes somewhere. Once the downtrend is over though, I do think a long position stands to make substantial gains in the short term as I think this will bounce hard. I just don't think it is done with the downtrend just yet.